Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»Bitcoin price surge causes $29 million short-term liquidation
ADOPTION NEWS

Bitcoin price surge causes $29 million short-term liquidation

By Crypto FlexsNovember 30, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin price surge causes  million short-term liquidation
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin BTC

-0.90%
The rapid upward price trajectory over the past 24 hours has resulted in nearly $30 million worth of Bitcoin short liquidation.

In the last 24 hours, over $119 million was liquidated in the cryptocurrency market. The majority of these liquidations, $73 million, were short positions. Bitcoin short positions accounted for the lion’s share of the damage, with more than $29 million worth of short liquidation in the last 24 hours, according to Coinglass data.

The extinction of short positions occurred as Bitcoin retraced its steps after breaking through the $38,000 level this morning. The largest digital asset by market capitalization reached a high of $38,246 in the last 24 hours. According to The Block’s pricing page, it’s currently trading for $37,690 as of 11:50 PM ET.

Bitcoin price rebounded again today. Image: The Block’s pricing page.

battle of bull and bear

Bitfinex analysts said one of the fundamental factors behind the recent rise in the price of the world’s largest digital asset by market capitalization “includes expectations of a pause in interest rate hikes by the Federal Reserve.”

“This pause is expected to maintain or lower benchmark overnight interest rates, which are among the highest in U.S. history. This situation will make risky assets such as Bitcoin more attractive to investors seeking higher returns in a low interest rate environment. “You can,” Bitfinex said. analysts told The Block.

But analysts added that there is also a different story at play. “Long-term Bitcoin supply continues to remain dormant, and during the current low period, aggressive market participants are chasing the price above the critical $37,500 level and making market purchases. This resilience has allowed Bitcoin to consistently trade above $37,500. This could also be reflected in Ethereum’s performance,” analysts said.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

BTC RSI hits April low as Coinbase premium turns red.

October 18, 2025

Crypto Exchange Rollish is expanded to 20 by NY approved.

October 2, 2025

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025
Add A Comment

Comments are closed.

Recent Posts

A retail rail can push $2 million a day out of the chain.

October 22, 2025

Bitcoin Futures Traders Return to Pumping BTC: Will It Last?

October 21, 2025

Bank of England to introduce stablecoin regulations by 2026

October 21, 2025

LayerZero Outlook: ZRO Price Imminent Ahead of $43 Million Token Unlocking.

October 21, 2025

Bombastic Casino Unveils New Design And Enhanced Features

October 21, 2025

Leading A New Era Of AI Model Training And Digital Computing Power Contracts

October 21, 2025

Earn 15% APR With Flexible Redemption And Up To 2,926 USDT

October 21, 2025

Crypto Market Recovers As Liquidity Returns — Pepeto Announces $700K Giveaway And 221% Staking Rewards

October 21, 2025

6 Best AI Quant Apps: Smarter Automated Trading Solutions for the Modern Investor

October 21, 2025

Start Passive Crypto Income At Zero Cost

October 21, 2025

Limitless Prediction Market Closes $10M Seed Round Ahead Of LMTS Token Launch

October 20, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

A retail rail can push $2 million a day out of the chain.

October 22, 2025

Bitcoin Futures Traders Return to Pumping BTC: Will It Last?

October 21, 2025

Bank of England to introduce stablecoin regulations by 2026

October 21, 2025
Most Popular

Solana Mimecoin Protocol Unveils New ‘Short Squeeze’ Platform

August 21, 2024

Bitcoin will fall to 37K after rising 30% after ETF approval

December 20, 2023

The XRP price route of $ 3.40 remains.

May 16, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.