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Bitcoin Surges to Almost $37K, Triggering Over $140 Million in Liquidations
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Bitcoin Surges to Almost $37K, Triggering Over $140 Million in Liquidations

  • Bitcoin (BTC) surpassed $36,700 for the first time since May 2022.

Bitcoin has risen yet again in price, reaching a new 18-month high of almost $36,700 (according to CoinMarketCap data).

Other major digital assets, such as Ether (ETH), Binance Coin (BNB), Cardano (ADA), Polygon (MATIC), Polkadot (DOT), and others, are also performing nicely.

The newest green wave in the cryptocurrency market, notably the increase of BTC, has resulted in liquidations worth millions of dollars.

According to CoinGlass, total liquidations in the last 24 hours have reached about $150 million, with short holdings accounting for more than 80% of that total.

Bitcoin Price Chart | Source: Coinstats

 

Bitcoin trades accounted for more than $65 million of the total, with Ether coming in second with roughly $16 million.

Read Also: Bitcoin Inscriptions Reach Mania Levels Again, Miners Benefit

Multiple analysts, including the AI-powered language model ChatGPT, believe BTC’s upswing is far from over, and that its price might reach a new all-time high in the coming months.

The probable legalization of a spot BTC ETF in America, broad adoption, the imminent halving, and other variables might all lead to such a surge.

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