Bitcoin Peaks at $69,404 as Short Liquidations Surpass $27M
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Bitcoin prices increased by 1.9% in 24 hours, hitting a peak of $69,404 around 9 a.m. EDT on Saturday. Over the past week, BTC has climbed by 3.1%, and over the last two weeks, it has surged by 16.8%. This surge also saw short liquidations surpassing $27 million, reflecting high market volatility and increased investor confidence in Bitcoin's upward trend.
The recent gains hint at renewed optimism among traders and investors, prompting a reassessment of Bitcoin's position in the market. The short liquidations indicate that many traders were betting against Bitcoin's rise, but were forced to cover their positions as the cryptocurrency's value continued climbing.
Source: news.bitcoin.com ↗
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