Bitcoin Surges Past $80,000 as Crypto Market Sees Gains
The cryptocurrency market has seen gains on August 25, with Bitcoin rising more than 4% to $80,756. Ethereum also posted a gain, increasing by 1.89% to reach $2,508.
According to data from Binance and CoinMarketCap, the total capitalisation of the cryptocurrency market stood at $2.71 trillion as of August 25. Bitcoin accounted for $1.62 trillion, or 59.9% of the total, while Ethereum represented $302.52 billion, or 11.2%.
However, the gains were accompanied by significant liquidations on cryptocurrency exchanges worldwide. Data from Coinglass showed that over 96,000 traders had their positions liquidated, with a total value of $647.91 million. The largest liquidation order was recorded on the Bitget exchange in the BTCUSDT_UMCBL trading pair, valued at $103.54 million.