After a Monday morning rally that saw the price of Bitcoin shoot past $31,000, the largest cryptocurrency by market cap got a second wind hours later, surpassing $34,000 later in the day, according to data from CoinGecko.

The new benchmark set a record high for 2023, reaching values not seen since last May, triggered a torrent of BTC shorts, leading to $114 million in liquidation in the last hour—and $145 million in total across crypto assets, according to analytics firm CoinGlass.

On leading crypto exchange Coinbase, BTC was trading at a premium closer to $35,000.

The pair of rallies to start the week have been attributed to building anticipation over the pending approval of Bitcoin spot ETF applications by the Securities and Exchange Commission.

Earlier today, a Washington, D.C. judge officially ordered the SEC to
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Author: Ryan Ozawa

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