Bitcoin price reached its highest point since May this year after surging above $55K.
In a large green candle, Bitcoin’s price managed to extend to as a lot as $55,555 on Binance, reaching a worth that we haven’t seen since May this year.
Bitcoin is up by a whopping 10% in the past 24 hours, and numerous it got here in the past 60 minutes.
As seen in the above chart, the Bitcoin price reached an intraday high of $55,555 on Binance’s spot exchange earlier than retracing to the place it’s at present trading at around $54,000.
This was the highest BTC worth that we noticed since May 12th, 2021.
It’s additionally worth noting that Bitcoin market dominance is also on the rise, as altcoins fail to maintain up with the pace. At the time of this writing, BTC’s dominance sits at almost 45% – the highest in almost two months.
The last hour saw a total of $162 million value of liquidations, 89% of which have been brief positions, as could be expected.
This implies that previously 60 minutes alone, $145 million worth of shorts have been liquidated, the vast majority of which got here from Huobi.
The most important single liquidation order occurred on Huobi, and it had a face worth of $11 million.