Bitcoin Reaches New All-Time High Despite Margin Liquidations

Bitcoin continues to surge towards new highs, defying a recent $170 million in margin liquidations. Analysts attribute this resilience to robust spot market buying and a lack of excessive leveraged trading, suggesting the current rally is sustainable. Bitcoin’s recent climb broke through the $102,000 level on May 19, after the price experienced a brief correction following its all-time high, but remained buoyed by strong demand in the spot market and healthy futures metrics.