Bitcoin rises and breaks above US$ 84 thousand after major liquidations in the market
Bitcoin (BTC) is up and trading above US$ 84 thousand this Tuesday (29), with an increase of approximately 1.5% over the last 24 hours. The move allows the market’s leading cryptocurrency to recoup part of the losses seen the day before, when a drop to US$ 82,5 thousand led to the liquidation of around US$ 500 million in leveraged positions in the market.
What happened
Bitcoin surpasses the US$ 84 thousand mark this Tuesday (29), reversing some of the recent losses and liquidating millions in positions. Spot Bitcoin ETFs in the United States are driving the recovery, with strong weekly inflows despite a slowdown in the pace. Bitfinex points to the cryptocurrency’s resilience in the face of adverse catalysts and a tight macroeconomic scenario, such as the Fed’s interest rate hikes.
Around 9:30 a.m., Bitcoin was quoted at US$ 84.381. The drop registered on Monday (28) pushed the asset to its lowest level in seven days, resulting in liquidations that affected 129.197 traders over a 24-hour period.
Bitcoin (BTC) is up and trading above US$ 84 thousand this Tuesday (29), with an increase of approximately 1.5% over the last 24 hours. The move allows the market’s leading cryptocurrency to recoup part of the losses seen the day before, when a drop to US$ 82,5 thousand led to the liquidation of around US$ 500 million in leveraged positions in the market.
What happened
Bitcoin surpasses the US$ 84 thousand mark this Tuesday (29), reversing some of the recent losses and liquidating millions in positions. Spot Bitcoin ETFs in the United States are driving the recovery, with strong weekly inflows despite a slowdown in the pace. Bitfinex points to the cryptocurrency’s resilience in the face of adverse catalysts and a tight macroeconomic scenario, such as the Fed’s interest rate hikes.
Around 9:30 a.m., Bitcoin was quoted at US$ 84.381. The drop registered on Monday (28) pushed the asset to its lowest level in seven days, resulting in liquidations that affected 129.197 traders over a 24-hour period.
