Bitcoin breached its all-time-high earlier today, crossing $22,000 briefly, before dipping back down to levels around $21,800. It has now crossed $22,000 once more and was trading at $22,091 at the time of writing.
The level of optimism around the world’s largest cryptocurrency was exceedingly high, as many in the crypto community took to Twitter to express their sentiment.
At these price levels, BTC futures’ aggregated open interest on major exchanges also hit all-time highs.
On this day, three years ago, Bitcoin crossed its all-time high of $19,700, and by comparing the price charts from 2017 with those of today, this parabolic price rise looks quite similar to the price movement from 2017.
Many anticipated that the market would only get more bullish from here on out, as the price went past previous all-time highs and continues to create a lot of FOMO for investors.
However, there may well be some incremental liquidations at these price levels, as a chart from Crypto Quant confirms that BTC All Exchanges Inflow Mean hits a nine-month high since the sell-off in March.