The Bitcoin price experienced a significant surge, surpassing $98,000, following several factors. The nomination of Paul Atkins, a cryptocurrency-friendly individual, as SEC Chairman by Donald Trump was seen as a positive development. Additionally, the dovish stance of FED Chairman Jerome Powell in his speech contributed to the rise. Moreover, the inflows into BlackRock's Bitcoin Spot ETFs also played a role. Altcoins also saw higher gains. However, along with the rise, there were large liquidation waves in the cryptocurrency market, resulting in $440 million in liquidation within the past 24 hours, with the majority in long positions. Bitcoin, Ethereum, XRP, and Solana were the most liquidated cryptocurrencies. This information does not serve as investment advice.



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