Bitcoin's price increased above $18,000, liquidating over $200 million worth of leveraged short positions.
Bitcoin’s price has been performing quite well throughout the past week after weeks of prolonged consolidation. At the time of this writing, it increased above $18,000 for the first time since December 14th.
BTC soared above $18,000, reaching as high as $18,370 (on Bitstamp) in Thursday’s early morning EU trading session.
The last time the cryptocurrency was trading at these prices was on December 14th.
Source: TradingView
The rest of the market also charted considerable gains, with ETH trading above $1,400.
This left a lot of short positions liquidated. In fact, over $200 million worth of leveraged shorts was liquidated in the past 24 hours alone, according to data from Coinglass.
Interestingly, it was OKX that saw the largest volume of liquidations over the past day.
Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn
