**Bitcoin Approaches $85,000 as Crypto Market Sees $684 Million in Liquidations**

Bitcoin’s rapid ascent continued into Monday, nearing $85,000 for the first time. This surge has driven significant volatility in the market, leading to substantial liquidations totaling $684 million over the past 24 hours.

As of now, Bitcoin has reached a new all-time high of $84,929 according to CoinGecko, though it has slightly tapered to $84,418. This marks an impressive 6% increase on the day and a remarkable 23% climb over the past week. Data from Coinbase indicates that Bitcoin came particularly close to the $85,000 milestone, missing it by just $0.02 late Monday morning.

Previously, Bitcoin held its peak at $73,737, a record maintained from March until the recent Election Day. The current surge has propelled the leading cryptocurrency up by more than $11,000 since Donald Trump began closing in on his electoral win.

Across the broader crypto landscape, significant gains have been observed. Dogecoin (DOGE) has jumped 103% to $0.32, Cardano (ADA) soared 83% to $0.60, and Solana ascended by 36% to approximately $220 over the past week.

Interestingly, despite the overall upward trend within the market, liquidations have hit both long and short positions. CoinGlass reports $685 million in market liquidations over the last day, with longs contributing $354 million and shorts accounting for $330 million. Bitcoin led these liquidations at $189 million, including a notable $15.6 million short position on OKX that was liquidated late Sunday. Ethereum followed as the next largest contributor to liquidations, totaling $102 million.