Bitcoin Surges Past $72K, Sparking $115M in Market Liquidations
TL;DR Summary
Bitcoin surged above $71,000 in anticipation of the upcoming reward halving, leading to increased bets in the Ordinal and BRC-20 ecosystem. The halving will reduce the rate of new coin creation and has historically preceded a bull market for the cryptocurrency. Open interest in BTC-tracked futures remains high, indicating leveraged bets on expected price volatility. Ordinals volumes surpassed those of Ethereum and Solana, while BRC-20 tokens saw gains, with some projects rising significantly.
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