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Bitcoin Tops $41K Leaving Close to $150M in Short Positions Liquidated

Bitcoin's price exploded above $41K for the first time in some 18 months.
George Georgiev

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Bitcoin’s price continues increasing throughout the last few days, causing all sorts of havoc on the derivatives markets.

The cryptocurrency managed to top $41K for the first time in some 19 months. The last time it traded above this mark was back in April 2022.

btc_price_chart_0412231
Source: TradingView

According to data from Coinglass, this latest move caused a total of $190 million worth of liquidated derivatives positions. $150 million of those were short.

Bitcoin’s dominance – the metric used to gauge its share relative to that of the rest of the market – has also spiked following the latest increase in price. It’s currently standing at 50.5%, which means that BTC has performed better compared to the altcoin market.

Nevertheless, most altcoins are also well in the green. Ethereum (ETH) is trading above $2.2K, marking an increase of 4.1% on the day and 10% on the week. Ripple’s XRP is also up by 2% in the past 24 hours.

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About the author

George Georgiev
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Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over 8 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.