Bitcoin continued its upward momentum after crossing the $63,000 mark yesterday. After several rapid and volatile rallies, it breached multiple key resistance levels and reached a new high of $66,500 around 7 AM today, testing the previous high set in late September. At the time of writing, it has pulled back slightly to $65,878, representing a 5.34% surge in the past 24 hours.

Ethereum also surpassed $2,600 during the same period, and is currently trading at $2,631, up 7.44% in the past 24 hours.

Dow and S&P 500 Hit New Records

On the US stock market, despite the higher-than-expected inflation data released last week, investor sentiment seems largely unaffected. Both the Dow Jones Industrial Average and the S&P 500 Index closed at new all-time highs.

• S&P 500 Index gained 44.83 points or 0.77% to close at 5,859.86

• Nasdaq Composite rose 159.75 points or 0.87% to close at 18,502.69

• Dow Jones Industrial Average added 201.37 points or 0.47% to close at 43,065.23

• Philadelphia Semiconductor Index climbed 96.27 points or 1.8% to close at 5,432.21

$247 Million Liquidated Across Crypto Markets in Past 24 Hours

According to Coinglass data, over $247 million worth of cryptocurrency positions were liquidated in the past 24 hours amid Bitcoin's volatile price action, with long positions accounting for $209 million. Approximately 66,000 traders were liquidated.

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