Bitcoin (BTC) Unleashes Thrilling Short Squeeze With Epic 3.8% Spike By U.Today
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© Reuters Bitcoin (BTC) Unleashes Thrilling Short Squeeze With Epic 3.8% Spike
U.Today – In a jaw-dropping turn of events, roared back to life at the beginning of this week, stunning market participants with an electrifying surge of 3.8%. The rapid ascent sent shockwaves through the crypto market, resulting in an avalanche of totaling a staggering $75.23 million within the last 24 hours alone.
Bears, who had bet heavily on a downward spiral, found themselves on the losing end as $36.89 million, a whopping 94% of total liquidations, belonged to short positions.
The climax of this wild ride came with a thundering pump that propelled ‘s price to a remarkable $27,980 per . Remarkably, this surge not only obliterated the losses suffered in the previous week but also triggered an unprecedented cascade of liquidations.
BTC to USD by The epicenter of this market-shaking event was Binance, the world’s largest cryptocurrency exchange, where the price of Bitcoin futures soared to an astonishing $28,168, leaving a trail of shattered bearish market participants in its wake.
Bearish pump?
The colossal short squeeze has left traders in awe, wondering whether , having collected liquidity from tardy and overly ambitious bears, is poised for a sustained upward trajectory or preparing for a continuation of its descent.
Now, the billion-dollar question looms: will Bitcoin harness this newfound momentum to continue its ascent, or is it merely a brief respite before another plunge?
As the crypto space braces for what comes next, one thing remains certain: Bitcoin’s ability to surprise and captivate is unmatched, proving once again that in the realm of digital currencies, the only constant is unpredictability.
This article was originally published on U.Today
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© Reuters Bitcoin (BTC) Unleashes Thrilling Short Squeeze With Epic 3.8% Spike
U.Today – In a jaw-dropping turn of events, roared back to life at the beginning of this week, stunning market participants with an electrifying surge of 3.8%. The rapid ascent sent shockwaves through the crypto market, resulting in an avalanche of totaling a staggering $75.23 million within the last 24 hours alone.
Bears, who had bet heavily on a downward spiral, found themselves on the losing end as $36.89 million, a whopping 94% of total liquidations, belonged to short positions.
The climax of this wild ride came with a thundering pump that propelled ‘s price to a remarkable $27,980 per . Remarkably, this surge not only obliterated the losses suffered in the previous week but also triggered an unprecedented cascade of liquidations.
BTC to USD by The epicenter of this market-shaking event was Binance, the world’s largest cryptocurrency exchange, where the price of Bitcoin futures soared to an astonishing $28,168, leaving a trail of shattered bearish market participants in its wake.
Bearish pump?
The colossal short squeeze has left traders in awe, wondering whether , having collected liquidity from tardy and overly ambitious bears, is poised for a sustained upward trajectory or preparing for a continuation of its descent.
Now, the billion-dollar question looms: will Bitcoin harness this newfound momentum to continue its ascent, or is it merely a brief respite before another plunge?
As the crypto space braces for what comes next, one thing remains certain: Bitcoin’s ability to surprise and captivate is unmatched, proving once again that in the realm of digital currencies, the only constant is unpredictability.
This article was originally published on U.Today
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