short
- The price of Bitcoin surpassed $80,000 overnight for the first time since January.
- Both Bitcoin and Ethereum have made significant gains over the past month after a difficult start to the year.
- The strategy did not buy any Bitcoin last week ahead of its upcoming earnings report.
price Bitcoin It rose above the $80,000 mark overnight for the first time since late January, marking a new milestone in the leading cryptocurrency’s recovery after falling below $65,000 at multiple points in recent months. It is the primary holder of publicly traded Bitcoin strategytaking a rare week’s vacation to collect the coin.
Bitcoin reached a recent high of $80,529 early Monday ET, and has since fallen to a recent trading price of $79,300. At this price, it is up 0.8% on the day, and is up more than 18% over the last 30 days according to data from Queen Gekko.
Ethereum Likewise, it posted double-digit percentage gains over the past month, rising nearly 15% over that period to a recent trading price of $2,350, while monthly gains for other major coins like XRP and Solana were not very large.
Bitcoin, Ethereum and most other major currencies fell sharply earlier this year as US President Donald Trump started a war in Iran alongside its ally Israel, with instability rocking risky assets like cryptocurrencies. However, it has rebounded in recent weeks amid a ceasefire and hopes that the conflict will end imminently.
Over the past 24 hours, more than $461 million worth of futures positions were liquidated in the cryptocurrency market, according to data from Queen Glassincluding $213 million worth of Bitcoin positions and $118 million worth of Ethereum-related positions. Short selling makes up the majority of the total liquidations, amounting to $317 million, as cryptocurrency speculators are affected by the market’s rise.
Strategy, which owns approximately $65 billion worth of Bitcoin, reliably announces a weekly BTC buy every Monday morning with rare exception. This week was one of those exceptions, but it was expected: The company routinely skips buys in the week leading up to its quarterly earnings report, which will be released on Thursday.
“No buying this week. Back to work next week,” Strategy co-founder and CEO Michael Saylor said Written on X Sunday.
Daily debriefing Newsletter
Start each day with the latest news, plus original features, podcasts, videos and more.
