Bitcoin Skyrockets Toward $20K Leaving $100M in Daily Liquidations
Following days of inactivity, Bitcoin was struck by another wave of upward volatility on Tuesday. After nearly reaching $20,000, the asset left $100 million in liquidations in its wake.
- Bitcoin’s price sat at roughly $19,270 at 12:40 UTC on Tuesday, before rapidly climbing upwards over the next few hours.
- The coin touched $19,500 about an hour later, experiencing another hour of flat trading before climbing again to $19,834 by 16:00 UTC. The price is now $19,792, at writing time.
- Data from Coinglass shows that $50 million in crypto trades have been liquidated over the past hour alone, with $112 million being squeezed over the past day.
- The largest single liquidation took place on Binance for a BTC/USDT trade, with a value of $1.01 million.
- However, the vast majority of liquidations in the past hour – $42.93 million – have come from the Ethereum camp. The second largest crypto also climbed from roughly $1,350 to over $1,400 on Monday, in tandem with Bitcoin.
- Big price moves have been rare in crypto for the past several weeks, with Bitcoin now showing volatility comparable to the British pound.
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