Bitcoin Breaks Record Level Of $48K, Sets New ATH

Bitcoin breaks record level of $48K briefly and set a new all-time high following the major news from BNY Mellon and Mastercard and their considerations to use BTC as we reported recently in our bitcoin news.

Bitcoin’s price painted a new all-time high today breaking the previous all-time high and setting a new one at $48,480 which came right after Mastercard announced they will potentially integrate crypto in their network as well as the BNY Mellon bank which revealed that it will hold, transfer and issue BTC and other cryptocurrencies on behalf of their clients.

Bitcoin breaks record level of $48K and surpassed the previous record as well. With this, the price is now eyeing to reach the $50K target. This comes as an impressive green candle that spans over the intraday low of $44,040 to the current price. It’s also interesting to note that the move came right as Mastercard announced it will potentially integrate crypto assets in their network sometime this year. With this move, Mastercard is the latest payment processing company to do this right after Visa did earlier in the year.
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At the same time, other bullish news came from America’s oldest Bank BNY Mellon which revealed that it will hold, transfer and issue bitcoin as well as other cryptocurrencies on behalf of its clients.

In general, over the past 24hours there were $630 million positions being liquidated on major exchanges and the biggest liquidation order happened on BitMEX which was a BTC position with a  face value of $8.19 million.

After the news emerged that Tesla purchased $1.5 billion worth of Bitcoin, the number one cryptocurrency by market cap posted its biggest daily candle in history. However, the price action was soon stopped before touching $50,000 which is the next major round number for the asset to surpass. Some uncertainty struck once the following day the impulse didn’t continue and resulted in doji and a drop as well. The newly attained support held and BTC took out the short-term bearish ceiling which was set when the uptrend hit the resistance.