Bitcoin Skyrockets Toward $20K Leaving $100M in Daily Liquidations

By akohad Oct25,2022


Following days of inactivity, Bitcoin was struck by another wave of upward volatility on Tuesday. After nearly reaching $20,000, the asset left $100 million in liquidations in its wake. 

  • Bitcoin’s price sat at roughly $19,270 at 12:40 UTC on Tuesday, before rapidly climbing upwards over the next few hours. 
  • The coin touched $19,500 about an hour later, experiencing another hour of flat trading before climbing again to $19,834 by 16:00 UTC. The price is now $19,792, at writing time. 
  • Data from Coinglass shows that $50 million in crypto trades have been liquidated over the past hour alone, with $112 million being squeezed over the past day. 
  • The largest single liquidation took place on Binance for a BTC/USDT trade, with a value of $1.01 million. 
  • However, the vast majority of liquidations in the past hour – $42.93 million – have come from the Ethereum camp. The second largest crypto also climbed from roughly $1,350 to over $1,400  on Monday, in tandem with Bitcoin. 
  • Big price moves have been rare in crypto for the past several weeks, with Bitcoin now showing volatility comparable to the British pound. 
BTC / USD. Source: TradingView

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.


Source link

By akohad

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *