Bitcoin Explodes Above $26K, Leaves Over $120 Million Liquidated in an Hour

Bitcoin’s price soared to its highest point in nine months and tapped $26,400 moments ago.

This happens on the back of somewhat positive CPI print, as well as hopes for a slowdown in terms of interest rate increases.

  • As CryptoPotato reported earlier, the Consumer Price Index for all Urban Consumers increased by 0.4% and to 6% year-over-year.
  • This sent a positive signal across the cryptocurrency market and saw Bitcoin surge above $25K on the announcement.
  • It wasn’t an hour after that, though, when the price saw another impulsive leg up and reached almost $26.4K on Binance.
BTCUSDT_2023-03-14_15-22-00
Source: TradingView

 

  • Data from Coinglass reveals that the move caused a whopping $120 million liquidated in the past hour alone.
  • The predominant part of the liquidations came from short positions.
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Source: https://cryptopotato.com/bitcoin-explodes-above-26k-leaves-over-120-million-liquidated-in-an-hour/