Home›Crypto›Market Structure›Bitcoin tops $80,000 as 24-hour short liquidations exc…

Bitcoin tops $80,000 as 24-hour short liquidations exceed $220M

Cointelegraph said the surge came as 24-hour crypto short liquidations passed $220.0 million, signaling heavy leverage unwind alongside BTC’s move above $80,000.

Reported · Written up by our desk · Market Structure

Bitcoin moved above $80,000 for the first time since May, according to Cointelegraph, as the broader crypto market saw a wave of short liquidations.

The outlet reported that 24-hour crypto short liquidations surpassed $220.0 million, a sign that bearish positioning was forced to unwind during the rally.

Cointelegraph added that while the price action challenges existing views, the market still needs to hold at higher levels to meaningfully test the bear-market thesis.

Latest closeBitcoin $78,839.88 ▲1.4%

More like this

Sources