Bitcoin Price Just $2,000 to $100,000: Over $450 Million Liquidated
The cryptocurrency market saw over $452 million worth of liquidation in 24 hours, driven by Bitcoin (BTC)’s surge towards the $100,000 mark.
Bitcoin reached an all-time high of $97,862.63 before retreating to $96,987.24, recording a daily gain of 3.99%.
Short traders were the hardest hit, with losses of $91.85 million, compared to $26.11 million for long traders.
Ethereum (ETH) also saw $66.31 million worth of liquidation, with its price rising slightly by 0.5% to $3,139.91, but it is still down 35.73% from its all-time high.
Large liquidations are no stranger to the crypto market, especially with price volatility.
Expectations suggest that Bitcoin could soon rise above the $100,000 barrier, which could expose short traders to more risk, especially with continued institutional demand from companies like MicroStrategy and limited supply due to the halving mechanism
