Rally in Bitcoin Upset the Bears! While BTC Exceeded $41,000, $200 Million Evaporated!

The leading cryptocurrency Bitcoin rose above $ 40,000 after a long time, making investors happy.

At this point, while BTC rose to the level of $ 41,700, there were also significant increases in altcoins.

Commenting on this rise of Bitcoin, analysts think that increasing optimism about the approval of the spot Bitcoin ETF in the USA and dovish statements made by the FED triggered this rise.

Some analysts argue that ETF optimism and positive statements from the FED, as well as the clearing of these increasing short positions, also support the rise.

While these increases were experienced in Bitcoin and altcoins, investors in short positions were also left in reverse and liquidated.

At this point, according to data from CoinGlass, $208.9 million was liquidated in crypto futures in the last 24 hours. Of this, $161.95 million consisted of short positions and $47.2 million consisted of long positions.

Among liquidated short positions, Bitcoin ranked first with $81.23 million. After BTC, $30.79 million was liquidated in Ethereum (ETH), followed by ORDI and Solana (SOL).

Looking at the liquidation amounts in the exchanges, Binance saw a total liquidation of $ 80 million, OKX $ 56 million, and Huobi $ 23 million.

Bitcoin continues to trade at $41,600 at the time of writing.

*This is not investment advice.