As Bitcoin almost revisited a three-month high above $30,000, cryptocurrency holders are getting more and more optimistic. Price action has been really brutal for bears in the last 24 hours: on Huobi and BitMex, shorts are responsible for more than 90% of liquidations.Today, Oct. 20, 2023, Bitcoin , the largest cryptocurrency, managed to briefly spike over the coveted level of $30,000. Theocal high was registered at $30,035 at 2:00 p.m. in the UTC timezone.
Meanwhile, the sentiment of Bitcoin investors become cautiously optimistic. Alternative's Fear and Greed Index increased to 53/100, which is close to the upper limit of the"Neutral" zone. The last time it was so big was in mid-August, data says.The optimism of market paricipants can be explained by a major legal win by U.S. fintech Ripple over the SEC watchdog. Asby U.
Largely, short positions are responsible for these monstrous losses. Per CoinGlass, over 71% of liquidations were lost by bears. The largest single liquidation was registered on Binance: Bitcoin bears lost $2.27 million in BTC/USDT contracts.Stellar Might Be Biggest Beneficiary of XRP's Rally, Here's Why
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Source: CoinDesk - 🏆 291. / 63 Read more »
Source: CoinDesk - 🏆 291. / 63 Read more »