๐จBreaking News ๐จ
๐ #BTCโฌ On February 28, Bitcoin experienced a notable surge, surpassing the $64,000 threshold on Coinbase, marking its highest level since October 2021. The cryptocurrency witnessed a substantial 12% increase in value within a 24-hour period, reaching a peak of $64,100.
๐ด However, this bullish momentum was abruptly interrupted as Bitcoin prices sharply retreated, plummeting to as low as $58,000. The sudden downturn coincided with a massive $100 million in Bitcoin liquidations flooding the market within just one hour. Over the preceding 24 hours, the total liquidations across the entire crypto market exceeded $630 million. Coinglass data revealed that short sellers incurred losses of over $355 million, while long positions faced liquidations amounting to $280 million.
๐ผ This $6,000 drop was accompanied by reports from users experiencing issues with their Coinbase accounts, with balances temporarily displaying as $0. Coinbase support acknowledged the problem, and as a response, Bitcoin's price swiftly rebounded above the $60,000 mark. At the time of writing, Bitcoin prices were hovering around $61,300.
