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Almost $ 100 million of liquidations when Bitcoin (BTC) rose to a weekly high
After several days of weaker price movements, Bitcoin finally went on the offensive and rose by almost $ 2,000 in the last 24 hours and has recorded the highest price since June 8. As expected, this led to liquidations worth several million dollars, whereby short positions made up almost 80 %. After the complaints of the SEC against the two largest crypto exchanges-Binance and Coinbase-as well as the CPI numbers from Wednesday and the Fed's departure from their interest rate policy, the price development of Bitcoin was rather disappointing. The asset recently recorded the lowest price in three months. However, the old coins suffered even stronger, and ...
Almost $ 100 million of liquidations when Bitcoin (BTC) rose to a weekly high
After several days of weaker price movements, Bitcoin finally went on the offensive and has increased by almost $ 2,000 in the last 24 hours and recorded the highest prize since June 8th.
As expected, this led to liquidations worth several million dollars, whereby short positions made up almost 80 %.- After the complaints of the SEC against the two biggest crypto exchanges-Binance and Coinbase-as well as the CPI numbers on Wednesday and the Fed's departure from their interest rate policy, the price development of Bitcoin was rather disappointing.
- The asset recently recorded the lowest price in three months. However, the old coins suffered even stronger, and the entire crypto market capitalization was temporarily dropped by $ 130 billion.
- Finally, however, the bulls have a reason to celebrate. The last 24–48 hours were much more advantageous for the entire market.
- BTC had recovered something and was $ 25,500 after BlackRock had applied for a Bitcoin spot ETF. After a small setback yesterday and a decline to $ 25,200, the cryptocurrency got into turmoil and shot a 9-day high of $ 26,800.
- It is not necessary to mention that most old coins BTC imitated or even exceeded in a daily comparison, whereby Solana, Polygon, Ethereum, Aptos and Algorand added up to 9 %. QNT has increased most of the larger old coins after an increase of 20 %.
- This has mainly harmed short dealers. The total value of the liquidated positions amounts to over 90 million US dollars within 24 hours, while short dealers are responsible for more than $ 70 million (approx. 80 %).
- According to Coinglass, Bitcoin and Ethereum have the largest share of the cake with almost $ 50 million of the entire $ 90 million.
BTCUSD. TradingView.