Bitcoin Touches $34K as $114 Million in Shorts Liquidated

After a Monday morning rally that saw the price of Bitcoin shoot past $31,000, the largest cryptocurrency by market cap got a second wind hours later, surpassing $34,000 later in the day, according to data from CoinGecko.

The new benchmark set a record high for 2023, reaching values not seen since last May, triggered a torrent of BTC shorts, leading to $114 million in liquidation in the last hour—and $145 million in total across crypto assets, according to analytics firm CoinGlass.

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