Bulls Push Bitcoin to Fresh All-Time High as European Trading Session Begins
The bulls are back in town for Europe’s Monday morning trading session, sending Bitcoin into price discovery. At the time of this writing, the BTC price trades at around $71,000 across multiple exchanges, charting a fresh all-time high. With this, the cryptocurrency is trading at a 3% increase for the day, adding up to its 11.3% weekly gains.
Liquidations Resulting from the Price Surge
- The move has liquidated around $50 million worth of leveraged positions.
- $44 million of the liquidated positions were shorts.
- Most of the liquidations took place on OKX, according to data from CoinGlass.
Ethereum and Binance Coin Also Experience Significant Increases
- Ethereum has also seen a substantial increase in price, tapping $4K before slightly retracing to its current trading price of $3980. ETH is up 14.5% for the day.
- Binance Coin has increased by 6.2% in the past 24 hours and is up an impressive 27.7% for the week.
The surge in Bitcoin’s price has caused significant liquidations among leveraged positions. Around $50 million worth of positions have been liquidated as a result, with $44 million of those being shorts. CoinGlass data reveals that most of these liquidations occurred on OKX.
In addition to Bitcoin’s rally, Ethereum and Binance Coin have also experienced substantial increases in their prices. Ethereum briefly reached $4K before retracing slightly to its current trading price of $3980. This represents a 14.5% increase for the day. Binance Coin has also seen a 6.2% increase in the past 24 hours and an impressive 27.7% increase for the week.
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