Cryptocurrency's flagship price, Bitcoin (BTC), rises to over $ 94,000, which has been able to a wave of liquids that have passed through the cryptocurrency market, wiping more than $ 650 million worth of leveraged positions in just 24 hours.
According to the data from CoinglassShort sellers took the damage, with a $ 570,5 million worth of short positions of fluid at the aforementioned period, compared to nearly $ 87.2 million worth of long liquid position.
More than $ 635 million in leveraged positions have been killed in just 24 hours.
Bitcoin only united about $ 300 million in short appointment after its price jumped 5.6% on a single day, reaching its highest level in a month and a half. Ethereum followed a 11% rally, which triggered more than $ 119 million in a short lover.
Price movement motivates the growing speculation about a potential short squeeze -a scenario where Bearish businessmen are forced to buy back assets at a higher price to close their positions, thus pushing prices even higher.
Bitcoin price for $ 100,000, says analyst
Crypto analyst Mister Crypto has been highlighting that liquidity is Nag -iuri Near the $ 100,000 mark, suggesting a large number of merchants have an open position or orders that can act as fuel for further upward movements if it is triggered.
An analyst -shared heatmap shows an unusual concentration of trading activity around $ 100,000 levels in the BTC/USDT market of Binance. This clustering suggests that many entrepreneurs stop losing or destroying that round number, making it a potential flashpoint.
The impact of recent transition is widespread. Bybit Led in the volume of extermination, with nearly $ 267 million that has been cleared from merchants' accounts, especially due to short positions. Binance and OKX also reported significant volumes of extermination, reflecting greater volatility in the market.
The rise in Bitcoin prices followed US President Donald Trump's announcement that he moved to arrange trade dealings with various countries and rejected rumors that he was considering the firing of federal reserve chair Jerome Powell.
Read more: XRP Foundation said
