Buy $GGsBitcoin Price Leap Towards $31k Makes Crypto Liquidation Hit $216 Million
Crypto News: The digital asset market is rejoicing a relief rally as the biggest crypto, Bitcoin (BTC) moves ahead to attain the next crucial price level of $31,000. However, Data depicts that the ongoing Bitcoin price rally is going against the traders’ sentiment.
Also Read: Ripple Legal Chief Have A Tip For “Bears” On Crypto Rules
Bitcoin Price Rally To Continue?
According to the Coinglass data, more than 61.6k traders have been liquidated in the last 24 hours. While the cumulative long and short crypto liquidation breached the $216 million mark. However, the biggest liquidation order XBT/USD valued at $9.30 million got executed on the Bitmex crypto exchange.
As the Bitcoin price breached the $30,000 level, over $158 million worth of short positions set by the traders got liquidated in the last 24 hours. The liquidated short positions turn out to be 73% of the cumulative $216 million liquidation. This suggests that traders were hoping BTC price to drop after the recent rally.
The global crypto market cap is up by over 4% in the last 24 hours to stand at around $1.18 trillion. However, the 24 hour trading volume is up by 20% to stand at $58 billion. Read More crypto News Here…
BTC Shorters Bleed
Coinglass data depicts that around $89 million worth of the long, and short positions set on BTC price got liquidated in the last 24 hours. However, 73% of the total liquidation (approx worth $65 million) were short positions. Most of the liquidations were recorded on the OKX crypto exchange.
Bitcoin price is by more than 20% in the last 7 days. However, Its price surged by over 4% in the last 24 hours breaching the vital $30k level. As per CoinMarketcap, Bitcoin price touched the $30,628 mark on Thursday. BTC is trading at an average price of $30,141, at the press time. While its 24 hour trading volume is up by 14% to stand at $31 billion.
Play 10,000+ Casino Games at BC Game with Ease
- Instant Deposits And Withdrawals
- Crypto Casino And Sports Betting
- Exclusive Bonuses And Rewards
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Breaking: Morgan Stanley Applies For Crypto-Focused National Trust Bank With OCC
- Ripple Could Gain Access to U.S. Banking System as OCC Expands Trust Bank Services
- $2T Barclays Explores Blockchain For Stablecoin Payments and Tokenized Deposits
- Breaking: U.S. PPI Inflation Rises To 2.9%, BTC Price Falls
- XRP News: Ripple-Backed Ctrl Alt Completes $280M in Diamond Tokenization on XRPL
- Top Analyst Predicts Pi Network Price Bottom, Flags Key Catalysts
- Will Ethereum Price Hold $1,900 Level After Five Weeks of $563M ETF Selling?
- Top 2 Price Predictions Ethereum and Solana Ahead of March 1 Clarity Act Stablecoin Deadline
- Pi Network Price Prediction Ahead of Protocol Upgrades Deadline on March 1
- XRP Price Outlook As Jane Street Lawsuit Sparks Shift in Morning Sell-Off Trend
- Dogecoin, Cardano, and Chainlink Price Prediction As Crypto Market Rebounds
