Tuesday, November 5, 2024

Bitcoin breaks via $67,000 | CryptoSlate

Fast Take

Bitcoin went above the $67,000 mark, almost hitting $67,500 — its highest degree since April 13.

The outstanding rally has triggered a wave of liquidations inside the digital asset ecosystem over the previous 24 hours. Roughly $122 million value of positions have been liquidated, comprising $39 million in lengthy positions and $84 million briefly positions, primarily based on Coinglass knowledge.

Liquidation Heatmap: (Source: Coinglass)
Liquidation Heatmap: (Supply: Coinglass)

Out of the entire liquidations, a staggering $45 million might be attributed to Bitcoin alone. Notably, within the $67,500 to $68,000 vary, there lies a considerable $2 billion value of leveraged positions liable to liquidation.

Binance BTC/USDT Liquidation Heatmap: (Source: Coinglass)
Binance BTC/USDT Liquidation Heatmap: (Supply: Coinglass)

Whereas Bitcoin is up 3% for the day, it’s essential to notice that the S&P 500 and Nasdaq are barely crimson, whereas gold has gained roughly 1%.

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