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Bitcoin price hits a 4-week high. What’s happening in the crypto market
The price of the leading cryptocurrency climbed toward $75,000 for the first time since mid-March.
Bitcoin ($BTC) reached a four-week high. On the morning of April 14, it rose to $74,933 for the first time since March 17, according to CoinMarketCap. As of 10:45 MSK, the leading cryptocurrency is trading around $74,500.
Over the past 24 hours, Bitcoin’s price increased by 5.5%. The total cryptocurrency market capitalization grew by 4.5% during the same period, reaching $2.53 trillion.
Among the top 100 coins, the biggest gainer was RaveDAO (RAVE), which rose by 34%. The biggest loser was Stable (STABLE), down 9%. Ethereum ($ETH) gained 8.5%, with the leading altcoin trading around $2,370.
Over the past 24 hours, crypto exchanges liquidated positions of 177,000 traders totaling $541 million. This reflects the nominal value of leveraged positions (a $100 position with 10x leverage counts as $1,000 in total losses).
Most losses were incurred by traders betting on price declines: $437 million of total liquidations came from short positions.
Spot Bitcoin ETFs in the U.S. recorded net outflows of $291 million on Monday. In contrast, Ethereum funds saw inflows of $9.4 million, according to SoSoValue data.
The crypto Fear & Greed Index rose from 12 to 21 out of 100. While sentiment remains in the “extreme fear” zone, the increase suggests that investors’ tendency to aggressively sell crypto is declining.
Cryptocurrency prices are currently sensitive to changes in rhetoric surrounding the Middle East conflict, previously noted analyst Anatoly Radchenko in a market review for RBC-Crypto. The current Bitcoin rally is occurring amid comments by U.S. Vice President J.D. Vance in an interview with Fox News stating that Washington has achieved its objectives in Iran.
See also: "Bitcoin: April 12 overview — sellers are exhausting, while whales are accumulating volume"
