The price of Bitcoin has surpassed $42,000, increasing by 6.6% in the past 24 hours. This surge brings the price back to levels seen before the crash in May 2022. The crypto market has also seen an increase in liquidations, with over $160 million liquidated primarily affecting short positions. Bitcoin's price reached a peak of $42,100 and is currently trading at $41,603. This surge represents a complete recovery to Bitcoin's level above $41,000 in early May 2022, showing a remarkable increase of over 150% since the beginning of the year. The global cryptocurrency market cap has also experienced a notable increase, reaching $1.62 trillion, a 4.0% increase in the past 24 hours. November's cryptocurrency exchange trading volume surpassed $826 billion, the highest monthly volume since March of the same year. Bitcoin's daily trading volume has reached a yearly high and its highest level since November 2022, increasing from over $30 billion to $32 billion. However, this surge in Bitcoin's price has led to significant liquidations, with over $216 million liquidated and 75,887 traders affected. The majority of these liquidations targeted short positions. Other cryptocurrencies like Ethereum, BNB, and Solana also experienced varying gains. Ethereum rose by over 4%, maintaining its position above $2,250, while BNB saw a modest uptick of over 2% and Solana traded flat.
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