Bitcoin has hit a fresh record, surpassing $73,800, as factors such as a significant $94 million liquidation of bearish bets against the cryptocurrency contribute to its surge. The data provided by Coinglass suggests that bearish or hedged positions against Bitcoin were cleared, allowing its price to soar further.
Alongside Bitcoin's rise, Dogecoin (DOGE) saw a substantial increase of 17%. This rising trend coincided with Donald Trump taking an early lead in voting, which appears to influence market sentiments, further driving the value of cryptocurrencies like DOGE.
Moreover, Polymarket odds also reflect Trump's strengthening position, now at 80%, adding to the overall buoyancy observed in the cryptocurrency markets during this period.
