In a seismic shift for the cryptocurrency market, Bitcoin has soared past the $41,000 mark, experiencing an exhilarating price surge not seen in over 18 months. This monumental leap has sent shockwaves across the trading landscape, triggering a cascade of events that have significantly affected derivatives markets and altcoins alike.

According to Coinglass data, the breathtaking surge in Bitcoin’s price has led to the liquidation of a staggering $190 million worth of derivatives positions.&middot

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