Major cryptocurrencies traded mixed on Thursday evening as U.S.-listed spot Bitcoin exchange-traded funds (ETF) began trading amidst high anticipation.
What Happened: Bitcoin briefly surged to over $49,000 on Thursday, marking its first time reaching that level since December 2021. The cryptocurrency, which is the largest by market capitalization, began the day below $46,000, then swiftly rose above $47,000 before peaking at $49,042 during the early U.S. trading session. However, it subsequently relinquished all its gains and is now trading above the $46,000 mark.
In the last 24 hours, data from CoinGlass reveals that a staggering 81,413 traders faced liquidation, resulting in a total amount of $231.96 million in liquidations. The largest single liquidation order, valued at $6.61 million, occurred on Binance for the BTC-USDT pair.
During this period, a nearly equal number of short and long positions were liquidated, reflecting a scenario where both FOMO (fear of missing out) and selling frenzy were at play. Notably, BTC longs worth $43.49 million and shorts valued at $39.86 million were liquidated.
Top Gainer (24 Hour)
The global cryptocurrency market cap now stands at $1.75 trillion, showing a 2.21% increase in the past 24 hours.
Stocks ended Thursday with little change, as new inflation data showed an increase in ...