Crypto:
29757
Bitcoin:
$66.912
% 0.12
BTC Dominance:
%54.3
% 0.12
Market Cap:
$2.43 T
% 0.29
Fear & Greed:
73 / 100
Bitcoin:
$ 66.912
BTC Dominance:
% 54.3
Market Cap:
$2.43 T

Bitcoin Rise Caused Some Loss!

Bitcoin

Bitcoin prices surpassing $34,000, those involved in the bearish market in the world of crypto took a major hit. The fall bets made in the last 24 hours cost traders a total of over $178 million. Especially the liquidations experienced on crypto exchanges like Binance, Huobi, and OKX, unveil how much leverage is used in the market.

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The surge in Bitcoin prices emerged as a result of boosted hopes about an impending approval for a spot Bitcoin exchange investment fund (ETF). This put traders in a positive expectation, while it majorly harmed those in the bear market.

According to recent data, about half of Monday’s total $400 million crypto liquidation came from Bitcoin future transactions. In contrast, Ethereum future transactions saw only a $50 million liquidation. The liquidations, mainly occurred at large exchanges such as Binance, Huobi, and OKX worth $50 million, showing the significance of leverage usage.

On Tuesday morning, Bitcoin prices increased by 12%, rising up to $35,200. This major move originated from low volumes and excessive demand. Tens of billions of dollars were added to the market value within a few hours.

This spike in Bitcoin’s price and liquidations in the cryptocurrency market are of interest to investors and traders. However, fluctuations in the market are expected to continue due to the impact of promising ETF news.


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