After flirting with $55,000 for much of the day, the price of Bitcoin didn’t hesitate to leap comfortably above $56,000 late Monday—$56,700 as of writing—reaching heady altitude despite $157 million in Bitcoin shorts being liquidated over the last 24 hours, according to CoinGlass.

The milestone comes only hours after BTC surged over $53,000, already seeing heights not seen since 2021.

Top institutional Bitcoin holder MicroStrategy had just grown its Bitcoin holdings to 193,000 BTC. That stash was worth $10.28 billion when founder Michael Saylor tweeted about the acquisition of 3,000 Bitcoin this morning. It’s now valued at $10.9 billion, a $620 million single-day bump.

The firm has paid an average of $51,813 per Bitcoin, Saylor notes.

It was October 2021 when crypto watchers were similarly breathless, watching Bitcoin rise above $57,000—again, as that figure represented its all-time high at the start of that year—as it continued a two-week rally. It eventually $69,000 in November.

Today was a good day for Ethereum as well, with the price of ETH peaking at $3,273 about an hour prior to Bitcoin’s breakout. It’s a number last seen in April 2022 when its value was on the way down from its all-time high of $4,878 in Nov 2021.

After flirting with $55,000 for much of the day, the price of Bitcoin didn’t hesitate to leap comfortably above $56,000 late Monday—$56,700 as of writing—reaching heady altitude despite $157 million in Bitcoin shorts being liquidated over the last 24 hours, according to CoinGlass.

The milestone comes only hours after BTC surged over $53,000, already seeing heights not seen since 2021.

Top institutional Bitcoin holder MicroStrategy had just grown its Bitcoin holdings to 193,000 BTC. That stash was worth $10.28 billion when founder Michael Saylor tweeted about the acquisition of 3,000 Bitcoin this morning. It’s now valued at $10.9 billion, a $620 million single-day bump.

The firm has paid an average of $51,813 per Bitcoin, Saylor notes.

It was October 2021 when crypto watchers were similarly breathless, watching Bitcoin rise above $57,000—again, as that figure represented its all-time high at the start of that year—as it continued a two-week rally. It eventually $69,000 in November.

Today was a good day for Ethereum as well, with the price of ETH peaking at $3,273 about an hour prior to Bitcoin’s breakout. It’s a number last seen in April 2022 when its value was on the way down from its all-time high of $4,878 in Nov 2021.