Bitcoin (BTC) Price Hits $60K for the First Time Since November 2021

Bitcoin’s bull run continues with full force as the asset soared to and past $60,000 for the first time since November 2021, when it peaked at $69,000.

Its dominance over the altcoins has also been on the rise in the past few days, exceeding 50% on CoinGecko after dropping to 48% last week.

BTCUSD. Source: TradingView

CryptoPotato reported earlier today BTC’s recent moves that included a massive surge from $51,000 to $59,000 in just two days.

However, that didn’t stop the primary cryptocurrency from rallying even further. Minutes ago, the asset skyrocketed by another grand and a half and surged past $60,000 for the first time since late November 2021.

As of now, BTC remains above $60,000 after tapping a multi-year peak of $60,600. As expected, this substantial increase has shifted entirely the market sentiment as investors have now become extremely greedy.

With the upcoming halving right around the corner and BTC’s historical performance after each of the previous ones, the community continues to speculate on how high the cryptocurrency will go during the current run. Just yesterday, veteran trader Peter Brandt altered his projection to $200,000.

Bitcoin’s dominance has skyrocketed as well in the past few days to 50.3% on CoinGecko and 52.7% on CoinMarketCap. Recall that the metric had fallen to 48% on the former and 49.9% on the latter just last week.

CoinGlass data shows that the total value of liquidated positions on a daily scale has soared to $315 million, most of which came from short positions. Roughly 100,000 traders have been liquidated, and the largest position was on Bitmex – worth $8.3M.

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