$263M In Crypto Shorts Rekt As Bitcoin Closes In On $100,000
The post $263M In Crypto Shorts Rekt As Bitcoin Closes In On $100,000 appeared on BitcoinEthereumNews.com. Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Data shows the cryptocurrency derivatives market has suffered a high amount of liquidations as Bitcoin and other assets have rallied. Bitcoin Is Close To Revisiting The $100,000 Mark After a pullback under $94,000 earlier in the week, Bitcoin has seen a rejuvenation of bullish momentum during the last couple of days as its price has recovered to levels beyond $99,000. Below is a chart that shows how the asset’s recent trajectory has looked. The price of the coin appears to have shot up over the past two days | Source: BTCUSDT on TradingView This rally marks the first time since February that Bitcoin has returned to these levels. If demand keeps up, it’s possible that the cryptocurrency would soon be challenging the $100,000 mark. The number one digital asset hasn’t been alone in this rally in the sector. In fact, many of the altcoins have produced better returns than BTC’s 2.5% jump during the last 24 hours. An asset that particularly stands out is Ethereum, which has managed to rally more than 7% inside this window. The trend in the ETH price during the last five days | Source: ETHUSDT on TradingView As is visible in the graph, Ethereum has broken above $1,950 with this surge. The coin has generally been performing worse than Bitcoin for a while now, so this breakout reflects a deviation from the pattern. As a whole, the cryptocurrency sector has witnessed notable volatility in the past day. Thus, it may be of no surprise that the derivatives side of the market has seen a shakeup. Crypto Derivatives Has Seen Large Liquidations Over The Last 24 Hours According to data from CoinGlass, a mass amount of cryptocurrency liquidations have occurred on the derivatives…
The post $263M In Crypto Shorts Rekt As Bitcoin Closes In On $100,000 appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Data shows the cryptocurrency derivatives market has suffered a high amount of liquidations as Bitcoin and other assets have rallied. Bitcoin Is Close To Revisiting The $100,000 Mark After a pullback under $94,000 earlier in the week, Bitcoin has seen a rejuvenation of bullish momentum during the last couple of days as its price has recovered to levels beyond $99,000. Below is a chart that shows how the asset’s recent trajectory has looked. The price of the coin appears to have shot up over the past two days | Source: BTCUSDT on TradingView This rally marks the first time since February that Bitcoin has returned to these levels. If demand keeps up, it’s possible that the cryptocurrency would soon be challenging the $100,000 mark. The number one digital asset hasn’t been alone in this rally in the sector. In fact, many of the altcoins have produced better returns than BTC’s 2.5% jump during the last 24 hours. An asset that particularly stands out is Ethereum, which has managed to rally more than 7% inside this window. The trend in the ETH price during the last five days | Source: ETHUSDT on TradingView As is visible in the graph, Ethereum has broken above $1,950 with this surge. The coin has generally been performing worse than Bitcoin for a while now, so this breakout reflects a deviation from the pattern. As a whole, the cryptocurrency sector has witnessed notable volatility in the past day. Thus, it may be of no surprise that the derivatives side of the market has seen a shakeup. Crypto Derivatives Has Seen Large Liquidations Over The Last 24 Hours According to data from CoinGlass, a mass amount of cryptocurrency liquidations have occurred on the derivatives…
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