The price of Bitcoin soared to $104,600, setting a new historical record. More than 80,000 people around the world experienced liquidation in the last 24 hours.

The price of Bitcoin soared to $104,600, setting a new historical record. More than 80,000 people around the world experienced liquidation in the last 24 hours.

Bitcoin price crossed the $104,600 mark, surpassing the previous high of $103,800 set on December 5, amid an overall rally in the cryptocurrency market. In the past 24 hours, more than 80,000 investors around the world experienced liquidation.

As of Sunday, Bitcoin had posted seven consecutive weeks of gains, its longest such streak since 2021.

U.S. President-elect Donald Trump, who favors regulatory policies that are friendly to cryptocurrencies, supports the idea of including Bitcoin in national reserves and plans to reverse the Biden administration’s crackdown on the digital asset industry.

The market reacted quickly to the news that Trump nominated Paul Atkins as SEC Chairman, and investors’ expectations for the U.S. cryptocurrency regulatory environment became more optimistic.

Since Trump won the presidential election last month, the price of Bitcoin has climbed significantly, surpassing the $100,000 mark. After reaching $100,000 for the first time on December 5, Bitcoin experienced severe price swings, during which it fell below $95,000.