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Bitcoin (BTC) Hits Six Figures Again: Details
The price of Bitcoin (BTC) has once again surged past the six-figure mark, reaching as high as $100,000. The sudden and unexpected move in the market has sent shockwaves through the cryptocurrency community.
As the news spread like wildfire, traders heard a hint of “money printing” and immediately reacted in the market’s quotes. Unfortunately, for the bears or sellers, this reaction came with a heavy price tag.
According to CoinGlass, the amount of liquidated short positions skyrocketed to over $46 million in just one hour. To put that into perspective, there was a total of $106 million in short liquidation over the last 24 hours, which means almost half of that amount occurred within this specific timeframe.
This significant price movement should not come as a surprise given the market conditions of the past few days. In fact, it would not be shocking to see the price move from $97,000 to $100,000 in the near future.
One thing traders will need to keep an eye on is how the price of BTC holds up during the weekly close. If Bitcoin can maintain a six-figure close next week, it will maintain the bullish bias and inject new optimism into the market.
It’s essential for investors to stay vigilant and closely follow market developments as they unfold.
Source: https://u.today/bitcoin-btc-hits-six-figures-again-details
