#BTC Bitcoin reaches a 6-week high above US$ 74 million with liquidations of short positions
Bitcoin rose above US$ 74.000 on Monday, its highest level in about six weeks, driven by a wave of liquidations of short positions, even as investors remained cautious about rising geopolitical tensions in the Middle East.
The world's largest cryptocurrency was trading up 3.4% at US$ 73.892,4 at 03:21 (Brasília time), after hitting US$ 74.336,9 at the beginning of the session.
Bitcoin jumped 6% last week, even with global stock markets declining, while rising oil prices fueled inflation fears.
Bitcoin rose above US$ 74.000 on Monday, its highest level in about six weeks, driven by a wave of liquidations of short positions, even as investors remained cautious about rising geopolitical tensions in the Middle East.
The world's largest cryptocurrency was trading up 3.4% at US$ 73.892,4 at 03:21 (Brasília time), after hitting US$ 74.336,9 at the beginning of the session.
Bitcoin jumped 6% last week, even with global stock markets declining, while rising oil prices fueled inflation fears.