However, exchanges netflows narrowed by 278.4%. With Bitcoin prices racing beyond the $61,000 mark, 88% of Bitcoin holders are in profit, while 12% are at breakeven. Coinglass data shows 61,634 traders liquidated in the past 24 hours for $190.

The stock market is on fire on Thursday and that has extended to cryptocurrencies as well. Over the past 24 hours, the value of Bitcoin ( BTC 5.43%) jumped 6.5% at 1 p.m. ET to $63,700, Ethereum ( ETH 6.40%) is up 7.6% to $2,470, and Dogecoin ( DOGE 4.93%) is up 6.3% to $0.1068.

Bitcoin edged higher after the Federal Reserve reduced borrowing rates for the first time since the Covid pandemic paralyzed the economy more than four years ago and helped cryptocurrencies break into the mainstream.