Crypto Market Sees $380 Million in Liquidations as Bitcoin Price Rallies Over $57,000
Bitcoin's price surged above $57,000, leading to a broader rally in the crypto market. The global crypto market cap increased by 7% to $2.25 trillion, with trading volumes also rising significantly. This resulted in over $380 million in crypto liquidations in the past 24 hours, with Bitcoin and altcoins funding rates reaching high levels. Additionally, options traders are predicting a strike price of $60K or even $70K before the upcoming Bitcoin halving, while BTC futures open interests on Binance and CME hit record highs.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin is up 6% since the Fed rate cut. What’s next?
Despite short-term boost, Bybit executive warns investors of “potential challenges posed by economic uncertainty and market fluctuations”
Eclipse targets October to launch ‘Solana on Ethereum’ L2
Mastercard and Safaricom team up to improve cross-border payments
FET token surges 75% in a month as AI narratives drive growth