The liquidation of more than 300 million dollars, coinciding with the rise in the price of Bitcoin to levels of 43 thousand dollars
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Answer The liquidation of more than 300 million dollars, coinciding with the rise in the price of Bitcoin to levels of 43 thousand dollars
Fluctuations and fluctuations in prices in the cryptocurrency market have led to liquidations worth over $300 million.
Bitcoin’s 15% rally, say in one day, became its biggest rally in over a year.
Russian President Vladimir Putin’s special military operation against his western neighbor caused massive turmoil in financial markets last week.
Bitcoin is a highly volatile asset, with Bitcoin dropping around $5,000 a day bringing its price to a monthly low of $34,000.
Then the cryptocurrency recovered just as quickly the next day as no other country wanted to be directly involved in the ongoing war between the two countries.Read:Weibo, known as China Twitter, bans a large number of crypto accounts
This led to a period of bitcoin’s sideways rallies, as the price of bitcoin has been hovering around $38,000 for a few days.
In the last 24 hours the situation has changed.
Bitcoin moved from its previous level, broke through $40,000, and continued its climb to a 12-day high of just over $44,000.
Rising more than 15% on the day, Bitcoin recorded the largest daily increase in price since February 2021, when it pumped nearly 20%.
Most of the altcoins made significant gains as well, which led to a large number of liquidations.
According to Coinglass data, the positions of more than 60,000 traders were destroyed in the past day, and liquidations totaled more than $300 million.
The largest single liquidation order (worth over $11 million) occurred on Binance.
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