Bitcoin Surges Beyond $51,000, Gaining $1,500 in Just Hours

By Owen Patter Feb 14, 202434Views

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Bitcoin Surges Above $51K, Catching Short Sellers Off Guard

The price of Bitcoin is showing resilience as it quickly rebounded after a recent dip. Within two hours, the price skyrocketed to over $51K, adding more than $1500. Currently trading at $51,200, Bitcoin has seen a 2.4% increase in the past hour.

Short sellers were caught off guard by this sudden move, resulting in total short liquidations exceeding $33 million in the past hour. On the other hand, long liquidations were only $400K. Over the past 4 hours, 97% of all leveraged positions that were liquidated were short, indicating that buyers are currently dominating the market.

Altcoins Follow Suit

Not only has Bitcoin experienced a surge, but other altcoins have also followed suit. Ethereum (ETH) has seen an equal increase to BTC during this period and has surpassed $2.7K at the time of writing.

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Owen Patter

Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content. Owen's contributions serve as a valuable guide for both seasoned enthusiasts and newcomers, aiding them in navigating the dynamic world of cryptocurrencies with well-researched perspectives. With a meticulous commitment to precision, he empowers informed decision-making in the ever-evolving crypto domain.