🚀 Bitcoin Nears $85,000
Bitcoin continued its rally into Monday, nearing an all-time high of $84,929 before dipping slightly to $84,418. BTC is up 6% on the day and 23% over the past week. Notably, Coinbase data showed it came within $0.02 of hitting $85,000.
📈 Crypto Market Gains
The broader crypto market has surged, with Dogecoin (DOGE) soaring 103% to $0.32, Cardano (ADA) up 83% to $0.60, and Solana climbing 36% to around $220. The rally has lifted nearly every major cryptocurrency over the past week.
💥 Massive Liquidations Hit the Market
Amid the rapid price movements, liquidations have spiked to $685 million in the past 24 hours. This includes $354 million in long positions and $330 million in shorts, according to CoinGlass. Bitcoin led the liquidations with $189 million wiped out, including a $15.6 million short position on OKX.
🔥 Ethereum and Altcoins Also Affected
Ethereum was the second-largest source of liquidations, totaling $102 million. The fast-paced market has seen traders caught off guard, with positions across multiple cryptocurrencies getting liquidated.
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