Bitcoin’s Sudden Spike Toward $42K Leaves $200 Million in Liquidations
The bitcoin price jumped to $41,700 just hours ago. This was an increase of 5.6% in under an hour. Unfortunately, the cryptocurrency quickly retraced and liquidated more than $200 million for the day.
The bitcoin’s sideways and choppy price action continues in full force. The cryptocurrency’s volatile sideways price action continues. It spiked from $39,000 up to $41,700 just a few hours earlier. This resulted in significant liquidations by both bears and bulls.
Source: TradingView
Although there was no obvious catalyst, Asian stock markets started trading around the same time as the cryptocurrency industry and it was in green.
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