Bitcoin Price Eyes $40K Amid Massive Volatility, Leaves Bears in Disbelief - Daily Bitcoin news

Bitcoin Price Eyes $40K Amid Massive Volatility, Leaves Bears in Disbelief


The cryptocurrency market went through massively volatile 48 hours in the context of the recent geopolitical events.

As Crypto Potato reported yesterday, the bitcoin price dropped towards $35K in a vicious 10% red candle in response to Russia’s decision to invade Ukraine after Putin’s call for a military operation. Today, however, things are different.

  • The broader cryptocurrency market is painted in green as major coins chart double-digit gains and recovery from yesterday’s bloodbath.
  • In less than 24 hours, BTC is up over 10%, trading above $39,000 and eyeing the major psychological level of $40K. We have yet to see if the current bullish momentum will take it there.
img1_btc
Chart by TradingView

  • The rest of the market is also painted green. Ethereum is up 11%, BNB – 8.5%, XRP – 10.6%, SOL – 9.2%, and so forth.
  • One thing that needs to be noted, though, is that the past 24 hours saw a massive amount of short positions being liquidated.
  • According to data from coinglass, the past day saw $400 million liquidated, and 67% of them were short positions.
  • FTX is the only exchange where there were more long liquidations.
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.



Source link

Leave a Comment