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Bitcoin Approaches $70K, Reaches Weekly High — What Happened
Bitcoin (BTC) rose by nearly 4% over the past 24 hours, climbing above $69.5K and reaching its highest level since March 26. Ethereum (ETH) also gained nearly 5%, approaching $2.15K. Most of the price increase occurred overnight on April 6.
By the morning of April 6, prices slightly declined — as of 07:00 GMT, Bitcoin was trading just below $69K, while Ethereum hovered around $2.125K.
The total cryptocurrency market capitalization reached $2.36 trillion, approximately 3% higher than the previous day. According to CoinMarketCap, nearly 80% of the top 100 cryptocurrencies by market cap recorded gains. The biggest increase was seen in Siren (SIREN), up 8%, while Stable (STABLE) posted the largest decline, falling 6% over the same period.
Amid rising prices, crypto exchanges liquidated positions of 76,000 traders over the past 24 hours, totaling $215 million. This figure represents the notional value of leveraged positions (for example, a $100 position with 10x leverage counts as $1,000 in total losses). Most losses were incurred by traders betting on price declines — out of the total liquidations, $160 million came from short positions on BTC and ETH markets.
Over the past week, spot Bitcoin ETFs in the U.S. recorded inflows of $22 million, according to SoSoValue. Meanwhile, Ethereum funds saw outflows totaling $42 million.
The Fear & Greed Index by Alternative.me indicates that market participants remain inclined toward selling. The sentiment indicator continues to stay in the “extreme fear” zone at 13 out of 100.
