2023-12-04 10:31:21

Bitcoin’s recent spike to nearly $42,000 led to over $200 million in liquidations, heavily impacting short traders.

Predictions suggest this surge could mark the beginning of a major bull run, influenced by factors like the 2024 Bitcoin halving and potential US BTC ETF approval.

Market trends show a rise in Bitcoin exchange netflows and open interest in futures and options, indicating possible increased volatility ahead.

Bitcoin’s impressive performance this year continues at full speed after its valuation surged to almost $42,000 (per CoinGecko’s data) a few hours ago. Somewhat expected, the price peak, last observed in the early spring of 2022, has severely affected short traders.

According to data presented by CoinGlass, the cryptocurrency liquidations in the past 24 hours equal over $200 million, with around 80% of that amount being short positions. Bitcoin trades comprised approximately $80 million of the total figure, whereas Ether followed second with $30 million.

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BTC-3.94%

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