Bears, who had bet heavily on a downward spiral, found themselves on the losing end as $36.89 million, a whopping 94% of total liquidations, belonged to short positions.
The climax of this wild ride came with a thundering pump that propelled Bitcoin‘s price to a remarkable $27,980 per . Remarkably, this surge not only obliterated the losses suffered in the previous week but also triggered an unprecedented cascade of liquidations.
BTC to USD by The epicenter of this market-shaking event was Binance, the world’s largest cryptocurrency exchange, where the price of Bitcoin futures soared to an astonishing $28,168, leaving a trail of shattered bearish market participants in its wake.
Now, the billion-dollar question looms: will Bitcoin harness this newfound momentum to continue its ascent, or is it merely a brief respite before another plunge?
As the crypto space braces for what comes next, one thing remains certain: Bitcoin’s ability to surprise and captivate is unmatched, proving once again that in the realm of digital currencies, the only constant is unpredictability.
This article was originally published on U.Today
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