Bitcoin has reached a new all-time high of nearly $94,000 within a week after breaking its previous record. This has boosted its market capitalization to around $1.850 trillion, making it the seventh-largest asset globally. The surge began after the US presidential election, and despite some consolidation and profit-taking, bitcoin has continued to rally. The recent climb has sparked speculation of a potential run towards $100,000. Notable purchases from companies like MicroStrategy have also contributed to the increase in bitcoin's value. The rise in price has resulted in significant short liquidations and the destruction of positions worth almost $300 million on a daily basis.



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