Bitcoin Price News: Bitcoin (BTC), the world’s largest crypto is on a recovery rally amid the emerging global bank crisis. After dipping below the crucial price level of $20K on March 10, Bitcoin price rose up to break through the vital $26K price level on March 14. However, from then over BTC is hovering around the $25K-$26K price level.
As per the data provided by Coinglass, more than 36K traders were liquidated over the past 24 hours. However, the total liquidations come in at $112.5 million. Binance, the world’s largest crypto exchange registered the largest amount of liquidation of $39 million in the last 24 hours.
Data depicts that out of $112 million liquidation, $75.22 million (67.06%) shorts were liquidated in the last 24 hours. While the single largest liquidation order of BTC-USDT-SWAP amounting to $2.33 million took place on the OKX crypto exchange.
$75.22 million of the shorts being liquidated which makes 67% of the total liquidation indicates the traders’ sentiments. Traders were betting that the Bitcoin price will decline further ahead after March 16, 2023 trade. However, BTC price went to breach the $26k level again. Read More Bitcoin News Here
Also Read: US Fed Prints $300 Billion, Bitcoin Price And Ethereum To Rally
Bitcoin price surged by more than 6% in the last 24 hours. BTC is trading at an average price of $26,059, at the press time. However, Its 24 hour trading volume has dropped by 10% to stand at $38 billion. As per the data, $53 million of liquidation have come just from Bitcoin.
However, the global digital asset market recovered by over 4% over the past day. The cumulative crypto market cap stands at $1.11 trillion. Its 24 hour trading volume has dropped by 17% to stand at $66.6 billion.
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Ethereum, the second largest crypto price is up by 4% over the past day. ETH is trading at an average price of $1,725, at the press time.
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