Bitcoin whipsaw liquidates nearly $300 mln in 24 h
#Create Content for HTX and Win a Share of 1000U! #Community Mega Airdrop #Aztec: Privacy-First L2 on Ethereum Bitcoin whipsaw liquidates nearly $300 mln in 24 hours – What comes next
The $63k support zone was defended once again, helping make Bitcoin’s short-term bullish case.
Bitcoin [BTC] saw intense volatility over the past week of trading. On Wednesday, the 25th of February, BTC formed a local top at $69,988 and fell by 9.94% to a local low of $63,030 on Saturday, the 24th of February.
After reaching this low, Bitcoin immediately rallied. At the time of writing, it was up by 7.71% from $63k in under 24 hours. The leading crypto saw $299.72 million of liquidations in 24 hours, according to CoinGlass data.
The wild volatility of the past two days meant that both long and short positions accounted for roughly equal shares of Bitcoin
liquidations. It showed how risky the market conditions were.
The whipsaw price reactions to developments over the past few hours were hard to predict, and even harder to trade
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