The price of Bitcoin is on the verge of 110,000 dollars, and the liquidation volume exceeds 300 million dollars
The price of Bitcoin has regained its strength, approaching the 110,000 dollar level, coinciding with an increase in the liquidation volume in the derivatives market to over 300 million dollars in the past 24 hours.
Bitcoin is currently trading at around 109,900 dollars, nearing an important technical and psychological barrier, reflecting a return of momentum to the market after a temporary decline.
Data from 'Coinglass' indicates that the liquidation volume has increased by 32%, with Bitcoin leading the scene with liquidations amounting to about 50 million dollars, mostly from short positions.
The total losses from short positions reached about 190 million dollars out of the 300 million dollars that were liquidated.
The recovery has extended to most altcoins, which recorded gains and returned to trading in the profit zone.
With optimism returning to the markets, the question remains about the possibility of this upward trend continuing in the coming days.
#CPI&JoblessClaimsWatch
