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Bitcoin Price Jumps Nearly 10%; Looks To Regain $30K

Bitcoin price jumped by more than 9% looking to regain the crucial $30K price level. BTC is trading at an average price of $29,879.
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Bitcoin Price Jumps Nearly 10%; Looks To Regain $30K

Bitcoin News: The global digital asset market printed green indexes as investors’ sentiments turns positive. Bitcoin (BTC), the world’s largest digital asset price recorded a jump of about 10% in order to recover from the loss registered over the past week. The cumulative market cap surged by around 7% over the past day. More than $82 billion came into the market. The 24 hour trading vol has jumped by 38% to stand at $49.7 billion.

Also Read: Pepe Coin Gets Huobi Backing; PEPE Price To Skyrocket?

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Bitcoin Seeks To Breach $30K

Bitcoin price jumped by more than 9% looking to regain the crucial $30K price level. BTC is trading at an average price of $29,879, at the press time. Its 24 hour trading volume is up by 58% to stand at $24.7 billion. BTC dominance increased by around 0.86% over the past day to stand at 46.87%.

Coinglass reported that more than 39K traders have been liquidated in the last 24 hours. Around $145 million of funds have been liquidated. The single largest liquidation order happened to be registered on Bybit of BTC/USD value of $2.20 million.

Data depicts that $123 million of shorts (84%) were liquidated, while $22.9 million on longs were liquidated. This indicates that traders were bidding for the crypto market to decline further.

Also Read: Coinbase (COIN) Price Shoots Pre-Market Amid Uncertain Regulatory Battle

As per the data, over $60 million of Bitcoin Shorts (87%) were liquidated, while just $8.39 million longs were liquidated. This indicates that traders were hoping for Bitcoin price to drop ahead as BTC was trading under increased selling pressure.

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Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

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