Bitcoin Price Blasts Past $56,000, Yielding $157 Million in Liquidated Shorts – Decrypt

After spending $55,000 all day. bitcoin price Despite more than $157 million in Bitcoin shorts being liquidated in the past 24 hours, it comfortably surpassed $56,000 late Monday and $56,700 as of this writing, according to CoinGlass. He did not hesitate to break through.

This milestone comes just hours after BTC soared above $53,000, already hitting highs not seen since 2021.

An investor who took a short position in Bitcoin, betting that the price would fall below when the purchase option was secured, would instead be liquidated when the price rises, triggering automatic actions by the exchange to prevent further losses. It will be.

Cryptocurrency liquidations in the past 24 hours, according to CoinGlass.

BTC then registered an increase of around 10% within the day. annual report For traditional investment vehicles. And the green candlestick is driven by trading demand for the Bitcoin Spot ETF, which saw record inflows today.

MicroStrategy, the top institutional Bitcoin holder, just increased its Bitcoin holdings to 193,000 BTC. This morning, when founder Michael Saylor tweeted about acquiring 3,000 Bitcoins, the stash was worth $10.28 billion. It is currently valued at $10.9 billion, an increase of $620 million in one day.

The company paid on average the following amount According to Saylor, the price is $51,813 per Bitcoin.

Bitcoin profit in 1 year
Image: CoinGecko

That was in October 2021, when crypto watchers alike watched with bated breath as Bitcoin continued its two-week rally, climbing above $57,000 — a figure that also rose in the same year. That’s because it was at an all-time high. It ended up at $69,000 in November.

Today was a good day for Ethereum. ETH price It peaked at $3,273 about an hour before Bitcoin’s breakout. This figure was last seen in April 2022, and its value was falling from its all-time high of $4,878 in November 2021.

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