Bitcoin has increased 6% in the last 24 hours and 14% in the last week. During the day, Bitcoin price went up to $ 47,245. At the time of this news, BTC price was trading at $ 47,157.
In Ethereum, the situation is no different. It seems like Ethereum is already priced in before the big transition expected to happen in June. Some analysts say that due to this update, Ethereum may not act in the same way as Bitcoin and other altcoins at its price point, it may experience higher increases.
Ethereum is up 6% in the last 24 hours and 15% in the last week. During the day, Ethereum price went up to $ 3348. At the time of this news, ETH price was trading at $ 3341.
The market cap of the entire cryptocurrency market has reached $2.1 trillion.
With the increase in the Bitcoin price, the 142 million dollar Bitcoin short position on the exchanges was liquidated.
Similarly, the increase in Ethereum also dragged short positions on exchanges to $102 million in liquidation.
How is the situation with other altcoins?
It wasn't just Bitcoin and Ethereum that increased in price. The entire cryptocurrency market has turned green. Among these, when we look at the last 24 hours of the top 10 cryptocurrencies, DOT leads with an increase of 10%, SOL 9% and LINK 8%.
Similarly, when we analyzed the last 24 hours of the top 50 cryptocurrencies, FIL 27%, VET 20%, EOS 18%, ICP 15% and THETA 15% were the leading coins.
This huge increase in Filecoin is probably related to the increase in the entire market, but there is another new development on the Filecoin front. Recently, Filecoin and IPFS announced a new partnership. This partnership announcement may also have had an impact on the price increase.
While many coins have experienced high gains, most are still well below their ATH from last year. For example, the ICP ATH has lost over 90% of its value since its inception.