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Bitcoin hits $94K after $420M in liquidations and geopolitical risk bid
Bitcoin surged to $94,200 on Monday as leveraged wipeouts and safe haven momentum lifted majors to highs not seen since early December.
Bitcoin surged past $94,000 on Monday, fueled by over $420 million in leveraged liquidations over the past 24 hours, according to CoinGlass data.
The rally began on Thursday as the new year kicked off and gained momentum over the weekend following news that the US military had captured Venezuelan president Nicolás Maduro, sparking renewed demand for safe-haven assets.
By 1:30 pm ET, Bitcoin was trading around $94,200—its highest level since early December. The rally lifted major tokens as well, with Ethereum rising to $3,200, Solana at $136, and XRP hitting $2.20.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.