Bitcoin Surges to $41K, Liquidating $350M in Short Positions
TL;DR Summary
Bitcoin and Ethereum prices rose by 4% as optimism around a potential spot ETF approval in the US grew, coupled with peak prices in gold. Over the weekend, crypto perpetual futures positions worth $220 million were liquidated, with bullish longs accounting for 85% of the total. Bitcoin shorts worth over $120 million were also liquidated since Friday. Open interest on BitMEX spiked 90% within hours, indicating a large player had opened massive bets on the platform. These liquidations can signal a local top or bottom, providing traders with insights into price volatility.
- Bitcoin’s Price Rise to $41K Buoyed by $200M in Weekend Short Liquidations CoinDesk
- BTC price nears $40K as as Bitcoin trader eyes return to all-time high Cointelegraph
- BTC/USD Forex Signal: Powerful Rise to New 18-Month High Price DailyForex.com
- Bitcoin Sails Past $41K as Crypto Market Recovers to Pre-Terra Levels CoinDesk
- Bitcoin Tops $41K Leaving Close to $150M in Short Positions Liquidated CryptoPotato
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