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Bitcoin Soars to $31k Sparking $108 Million In Liquidations

Bitcoin’s market cap is back above $600 billion.
Andrew Throuvalas
By Andrew Throuvalas

Bitcoin (BTC) blasted back above $31,000 on Friday, resuming a week of bullish gains following BlackRock’s Bitcoin spot ETF application last week.

  • The asset, which touched a high of $31,400 at 16:13 UTC, now trades for $31,117.
  • The milestone puts Bitcoin’s total market cap back above $600 billion, and its market dominance above 51.86%.
  • Data from Coinglass shows that over $108 million in crypto market liquidations have occurred in the past 24 hours, affecting close to 36,000 traders.
  • “The largest single liquidation order happened on OKX – BTC-USDT-SWAP value $1.54M,” the site states.
  • Bitcoin continues to outperform Ether (ETH) this week, which remains sequestered under $2000.
  • Some investors including MicroStrategy’s Michael Saylor believe that continued enforcement action against the rest of the crypto space will cause Bitcoin dominance to keep rising.
Bitcoin / USD. Source: TradingView
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Bitcoin Bitcoin (BTC) Price
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About the author

Andrew Throuvalas
Andrew Throuvalas
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Andrew is a content writer with a passion for Bitcoin. He became familiar with Bitcoin back in 2013, but began diligently studying the blockchain technology and its economic implications in 2017. Ever since, he’s believed in the network’s power to replace the current global monetary system, and provide financial freedom to billions worldwide. Contact: Medium