Over $100 Million Liquidated After Bitcoin (BTC) Neared $44K
BTC’s price reached a three-week high, which negatively affected some short traders.
After days of trading at approximately $42,000, Bitcoin (BTC) finally went on the offensive, spiking to almost $44,000 a few hours ago.
Its latest push resulted in more than $110 million in liquidations in the last 24 hours, with short positions representing $76 million of the total share (according to CoinGlass).
Bitcoin liquidations accounted for $40 million of the amount, whereas Ethereum (whose price surpassed the $2,300 mark) followed next with almost $25 million.
Other altcoins, such as Solana (SOL) and Cardano (ADA), are also well in the green, soaring by 6% and 8%, respectively (per CoinGecko’s data).
The total cryptocurrency market capitalization surged to nearly $1.75 trillion, while Bitcoin’s dominance over the alternative coins remains at around 52.5%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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