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    Bitcoin price hits $57,000 for the first time since December 2021

    Updated Feb 27, 2024 05:42

    ■  Bitcoin price tagged $57,000 for the first time since December 2021.

    ■  This move comes after BTC inflated by 5.31% on Monday and nearly 5% in the early trading session on Tuesday. 

    ■  Investors need to be cautious of this volatility as it could see a significant sell-off. 

    Bitcoin price had low volatility between February 15 and 25, but in the last two days the buyers seem to have made a comeback as BTC hit $57,073 on Binance.

    Bitcoin price hits $57,000

    Bitcoin price has hit a new yearly high of $57,000 for the first time in more than two years. The bull run that began in 2023 is still going strong and shows no signs of stopping. The nearly 5% upswing noted on Tuesday, coupled with the Monday's 5% has made this move possible.

    BTC/USDT 1-week chart

    BTC/USDT 1-day chart

    According to data from CoinGlass, this explosive move has liquidated nearly $250 million worth of positions on Monday, with $120 million liquidated as of February 27. 

    BTC liquidations 

    BTC liquidations 

    * The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

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