Cryptocurrencies Increased by 50 Percent in 1 Day! Will There Be More?

According to CoinGlass data, the total amount of liquidations in the last 24 hours was $580 million. About $500 million of that was due to short positions that thought the market was heading for a correction. Those who underestimated Bitcoin’s bullish power paid a heavy price.

Liquidation Map: The red-tinged charts clearly show how traders were caught in the opposite positions.

Bitcoin has been expected to reach six-figure levels for a while. The price, which rose to $99,700 in the morning hours, was supported by news of new trade talks between China and the US in Switzerland. Then, Donald Trump announced that he would make a big announcement regarding the UK, increasing the excitement in the market.

Throughout the day, BTC waited with bated breath at the $100,000 threshold. However, the resistance was eventually overcome and Bitcoin became the undisputed star of the day, passing $101,000.

Following Bitcoin, altcoins also took action.

🔸️$PEPE , $SUI and #FARTCOIN : 20-25% daily increase

🔸️#VIRTUAL and #PENGU : 36% and 33% increase, respectively

🔸️#Ethereum (ETH): $ETH , which has been quiet recently, rose by 10% to over $2,000.

More than 145,000 investors lost their positions in the last 24 hours. Especially those who traded in the downtrend were helpless in the face of liquidations. The sharp turn of the market caught many traders unprepared.

⚠️ Note: My posts are not investment advice. There may be errors due to translation. Please do your own review. You can also write your thoughts in the comments section.

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