Crypto

Bitcoin Rally Liquidates $300M in Crypto Short Positions

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Bitcoin (BTC) and other digital assets have rebounded strongly in recent days after a major correction over the past eight months. As a result, bearish crypto traders have been hit hard as over $300 million in short crypto trading positions have been liquidated in the last 24 hours.

A large percentage of liquidations have taken place on the Ethereum network as the world’s second-largest digital asset hit a high of $1,770 on Thursday, the highest level in nearly seven weeks, according to Coinglass. Nearly $150M short ETH positions have been liquidated in the last 24 hours. Bitcoin came in second with $45 million in liquidated short trading positions.

In total, 114,070 cryptocurrency trading positions have been liquidated in the last 24 hours. The largest liquidation order occurred on Bitfinex. Apart from Bitcoin and Ethereum, digital assets such as Ethereum Classic, Solana, Shiba Inu and Cardano experienced a lot of volatility yesterday.

bullish sentiment

Over the past few days, the capitalization of the crypto market has exceeded $100 billion. The latest surge on Thursday added almost $50 billion to the total market value of digital currencies.

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Commenting on the crypto market, Ben Small, Analyst at GlobalBlock, said: “BTC rebounded above the $23,000 mark, allowing the market leader to comfortably stay in the upper 6-week range. ETH has jumped 13% since the announcement, hitting the mid-$1.7K mark, a level it has struggled to clear since early June. Defi tokens also reacted strongly, with Aave setting its price above the $92 mark (nearly higher). 40% in June) and Uniswap is up 21%.”

Bitcoin is currently trading around $23,900 while Ethereum is hovering around $1,730.

Bitcoin (BTC) and other digital assets have rebounded strongly in recent days after a major correction over the past eight months. As a result, bearish crypto traders have been hit hard as over $300 million in short crypto trading positions have been liquidated in the last 24 hours.

A large percentage of liquidations have taken place on the Ethereum network as the world’s second-largest digital asset hit a high of $1,770 on Thursday, the highest level in nearly seven weeks, according to Coinglass. Nearly $150M short ETH positions have been liquidated in the last 24 hours. Bitcoin came in second with $45 million in liquidated short trading positions.

In total, 114,070 cryptocurrency trading positions have been liquidated in the last 24 hours. The largest liquidation order occurred on Bitfinex. Apart from Bitcoin and Ethereum, digital assets such as Ethereum Classic, Solana, Shiba Inu and Cardano experienced a lot of volatility yesterday.

bullish sentiment

Over the past few days, the capitalization of the crypto market has exceeded $100 billion. The latest surge on Thursday added almost $50 billion to the total market value of digital currencies.

Commenting on the crypto market, Ben Small, Analyst at GlobalBlock, said: “BTC rebounded above the $23,000 mark, allowing the market leader to comfortably stay in the upper 6-week range. ETH has jumped 13% since the announcement, hitting the mid-$1.7K mark, a level it has struggled to clear since early June. Defi tokens also reacted strongly, with Aave setting its price above the $92 mark (nearly higher). 40% in June) and Uniswap is up 21%.”

Bitcoin is currently trading around $23,900 while Ethereum is hovering around $1,730.

See original article at www.financemagnates.com

Denial of responsibility: Cardano Feed is a decentralized news aggregator that allows journalists, influencers, editors, publishers, websites, and community members to share news about the Cardano ecosystem. The user should always do their own research and none of these articles constitute financial advice. The content is for informational purposes only and does not necessarily represent our opinion.

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