Bitcoin Explodes to 18-Month High, Leaving $150 Million in Liquidations

Yesterday’s rollercoaster ride was just the beginning for Bitcoin, as the asset returned to the offensive early in Asian trading hours and climbed to just over $36,000 for the first time since May 2022.

With many altcoins performing even better, the total value of liquidated trade positions jumped to $150 million on a daily scale.

  • CryptoPotato reported yesterday’s pump and dump, which saw BTC rise by around a thousand dollars in a matter of minutes. Nonetheless, the cryptocurrency eventually returned to around $34,000.
  • After several hours of quiet trading around this level, the bulls took matters into their own hands early Thursday and launched a massive rally that only capitalized on the gains seen in October.
  • Within hours, bitcoin soared to just over $36,000, which became its highest price in a year and a half.
  • Despite losing some ground since then, BTC is still up 4% on the day, with a market cap of around $700 billion. Its dominance over altcoins is also stable at 53% and even in a expansion stateaccording to Glassnode, although many performed better on a daily basis.
BTCUSD. Source: TradingView
  • Solana and Uniswap both grew by double digits, 11% and 15%, respectively. Impressive price increases also come from companies like ADA, MATIC, DOT and AVAX.
  • This increased volatility hurt overleveraged traders. Total liquidations on a daily scale have increase to $150 million, with more than 60,000 traders destroyed.
  • The largest liquidation order took place on Binance and was worth over $1.5 million.


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