Skip to main content

Bitcoin’s price is showing little signs of weakness as yesterday’s dip was quickly bought up.

In less than two hours, the price exploded to above $51K, adding more than $1500. As seen in the chart below, BTC currently trades at $51,200, representing an increase of around 2.4% in the past hour.

BTCUSDT_2024-02-14_11-27-57
Source: TradingView

Data from Coinglass reveals that this sudden move has caught short sellers unprepared. In the past hour, the total short liquidations exceeded $33 million, whereas the long liquidations were merely $400K.

In fact, for the past 4 hours, 97% of all leveraged positions that were liquidated were short. It appears that the buyers are currently in control of the market.

Other altcoins followed suit. In fact, ETH is up exactly as much as BTC during the mentioned period and managed to top $2.7K, at the time of this writing.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).


Source link

admin

Author admin

More posts by admin
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments