Bitcoin passes $66k as liquidations surge and halving approaches Quick Take
Bitcoin reached a year-to-date high of approximately $66,400 during European trading hours.
This resurgence brings Bitcoin within 8% of its all-time fiat value high of around $69,000, reached back in November 2021 (around 844 days ago). However, the journey upward has not been devoid of turbulence.
Recent data from Coinglass reveals that the digital asset ecosystem has suffered approximately $230 million in liquidations in the past 24 hours, with Bitcoin accounting for roughly $70 million, mainly driven by short positions equalling roughly $50 million.
It’s noteworthy to mention that Bitcoin has experienced a significant appreciation of approximately 44% year to date. In terms of nominal fiat value, this signifies a rise from $44,000 to a commendable $66,000.
Interestingly, Bitcoin’s rise comes before a “halving” event, a significant occurrence that has historically never been preceded by a Bitcoin all-time high.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
