Leading cryptocurrencies inched higher as a weaker private sector jobs report drove investors' risk appetite.
What Happened: Bitcoin broke $71,000 for the first time in over two weeks, sailing as high as $71,670 before facing resistance. The world's second-largest cryptocurrency, Ethereum, also ticked higher, rising past the $3,850 mark.
The rally triggered liquidations worth $111.72 million in the last 24 hours, with more than 39,000 traders getting "rekt."
Open Interest in Bitcoin futures rose 1.38% to $37.61 billion in the last 24 hours, taking the total gains over the week to over 12%. This was a sign that investors were betting on more volatility around King Crypto.
Interestingly, the number of traders taking bearish short positions on Bitcoin surged vis-à-vis those taking bullish bets, indicating that the market was expecting a correction.
Top Gainer (24 Hour)
Cryptocurrency Gains +/- Price (Recorded 8:30 p.m. EDT) Stacks (STX) +12.22% $2.42 Mantle (MNT) +7.18% $1.04 Cronos (CRO) +6.36% $0.1191
The global cryptocurrency market cap increased 0.44% to $2.64 trillion in the ...