The price of Bitcoin, the world’s largest cryptocurrency, exceeded the 39,000 threshold for the first time since May 2022 and is at $ 39,300 at the time of writing this article.
However, BTC instantly threw a candle wick up to $39,700 on Binance.
The latest wave of rise came after FED Chairman Jerome Powell’s speech on Thursday, as hopes increased that interest rate cuts might come earlier than expected, and Bitcoin spot ETF approval is thought to be given by the SEC in January, with a very high probability.
When the data is examined, it is seen that after the sudden attack in the Bitcoin price, there was a liquidation of 53.46 million dollars in the cryptocurrency market in the last hour. Surprisingly, $51.46 million of these liquidations occurred in short positions.
The liquidation amount for BTC was $24.13 million in total, $20.66 million for ETH, and $1.27 million for SOL. Other liquidations occurred in small amounts across many altcoins.
Table showing the liquidations in the cryptocurrency market in the last hour.
In addition to BTC, which suddenly rose by approximately 1.5% in the last hour, it was noteworthy that the rise was more severe for Ethereum. ETH price has increased by 1.84% in the last hour and is trading at $2,160 at the time of writing.
*This is not investment advice.
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