Bitcoin Taps $40K, Surging 6% in Less Than Two Hours
Bitcoin tapped $40k following a quick surge of 6% in less than two hours, leaving bears in disbelief.
Bitcoin’s price shot up in the past couple of hours in two massive consecutive green candles, leaving bears underwater and attempting to reclaim the coveted $40K level.
- Over the past two hours, bulls took complete control of the market momentum and managed to push BTC’s price to almost $40K (on Binance).
- This comes following a couple of green days after BTC dropped to $33K yesterday, charting a recovery of almost 20% in the interim.
- In the meantime, data from Coinglass reveals that the move caused a stir amongst bears as there are currently around $200 million in liquidations, with the largest single order happening on OKEx with a face value of $3.18 million.
- Moreover, 77% of the total liquidations in the past 4 hours came from short positions.
- 36% of those happened on OKEx, and 34% happened on Binance, followed by Bybit, FTX, and Huobi.
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