Image default

Bitcoin Explodes Above $26K, Leaves Over $120 Million Liquidated in an Hour

Bitcoin’s price soared to its highest point in nine months and tapped $26,400 moments ago.

This happens on the back of somewhat positive CPI print, as well as hopes for a slowdown in terms of interest rate increases.

  • As reported, the Consumer Price Index for all Urban Consumers increased by 0.4% and to 6% year-over-year.
  • This sent a positive signal across the cryptocurrency market and saw Bitcoin surge above $25K on the announcement.
  • It wasn’t an hour after that, though, when the price saw another impulsive leg up and reached almost $26.4K on Binance.
Source: TradingView
  • Data from Coinglass reveals that the move caused a whopping $120 million liquidated in the past hour alone.
  • The predominant part of the liquidations came from short positions.

Here’s How To Stay Up To Date On Crypto With CryptosRUs!

Learn about Bitcoin, Ethereum, and so much more at the CryptosRus Academy.

For the best exchanges, check out our top exchange guide. 

Secure your crypto with Ledger and Trade your way to victory with help from LuxAlgo

Sign up for our bi-weekly newsletter for news and exclusive analysis.

Follow CRU News Desk on Twitter for our latest articles and Twitter exclusive threads.

Stay up to date with George on Tik Tok, Instagram, and his brand new clips channel.

Source link

Related posts

Ripple CTO Describes XRP Buyback Theory as an ‘Awful’ Lot of ‘Scam’

Melodie Denning

Silvergate Bank’s Collapse Causes BTC’s Price to Plunge

Melodie Denning

AI That Gives Investment Advice? JP Morgan Working on ChatGPT Alternative

Melodie Denning

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy