The global digital asset market printed green indexes all around as Bitcoin (BTC) regained the crucial $60,000 level. The return of bulls has helped the biggest crypto to surge by over 12% in the last 7 days, while bears’ estimates failed heavily.
The cumulative crypto cap surged by more than 3% over the last day to stand at $2.11 trillion. The biggest of the altcoins like Ether (ETH) and Dogecoin (DOGE) recorded a gain of 3% and 5%, respectively, in the last 24 hours. However, the fear and greed index flashed a “Neutral” sentiment signal with 50 points, rebounding from the fear zone.
Bitcoin bears bleed
As per the data shared by Coinglass, more than 35K traders betting on the different crypto price actions got liquidated in the last 24 hours. The total liquidations come in at $127.96 million, while the largest single liquidation order was executed on the largest crypto exchange, Binance of BTC/USDT, worth $14.18 million.
Alone Bitcoin saw $53.5 million worth of liquidation in the past 24 hours. Over $48.67 million worth of liquidated bets (90%) turned out to be short positions set by the traders on Bitcoin price performance. This suggests that bears were hoping for BTC to continue on its downward trend, meanwhile, the biggest crypto breached the $60K mark.
The biggest crypto price dropped below the $57K level following the US Presidential debate between Donald Trump and Kamala Harris. Bitcoin price jumped by more than 4% over the last 24 hours, clearing the losses seen in the longer time frame. BTC is trading at an average price of $60,307 at press time. Its 24-hour trading volume jumped by 5% to stand at $32.5 billion.
BTC ETFs post $263M inflow
BTC linked ETFs also reflected bullish sentiments returning to the market as they posted an inflow of massive $263 million on September 13. These funds have managed to maintain the green index for the second consecutive day after witnessing an outflow of $43.97 on September 11.
MicroStrategy (MSTR) just made another big Bitcoin move by accumulating $1.1 billion worth of Bitcoin, sending its stock soaring 8% on Friday. MSTR share price has risen by 18% in the last 5 days as it closed trading at $141.4 on Friday.
Its founder, Michael Saylor, revealed that MicroStrategy’s average Bitcoin purchase price over the last four years stood at $38,585 per coin. The company now holds 244,800 BTC, worth $14.6 billion. He introduced the BTC yield metric, showing a 17% increase in shareholder value from selling stock to buy Bitcoin.
Source: https://www.cryptopolitan.com/are-bitcoin-bulls-back-btc-regains-60k/