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Bitcoin briefly hits $93,000 as crypto market extends new year rally with $260 million in liquidations
Source: CryptoNewsNet Original Title: Bitcoin briefly hits $93,000 as crypto market extends new year rally with $260 million in liquidations Original Link: https://cryptonews.net/news/analytics/32225477/ Bitcoin BTC briefly touched $93,000 on Monday as traders leaned into a fresh risk bid across markets following recent geopolitical developments, while year-opening flows pushed major tokens higher after a choppy finish to 2024.
BTC traded up about 1% over 24 hours and roughly 3% over seven days, while ether held near $3,160, also higher on the day. XRP added around 3% to above $2.10, extending its early January outperformance, while Solana hovered near $136. Dogecoin eased on the day but remained up 17% over the past week, the highest gains among majors.
Derivatives positioning amplified the move. Liquidations crossed $260 million over 24 hours, with shorts accounting for about $200 million, showing late sellers were forced to cover as prices pushed higher.