Bitcoin Soars Above $18,000, Over $200M Shorts Liquidated

Bitcoin Soars Above $18,000, Over $200M Shorts Liquidated

Bitcoin’s price has been performing quite well throughout the past week after weeks of prolonged consolidation. At the time of this writing, it increased above $18,000 for the first time since December 14th.

  • BTC soared above $18,000, reaching as high as $18,370 (on Bitstamp) in Thursday’s early morning EU trading session.
  • The last time the cryptocurrency was trading at these prices was on December 14th.
BTCUSD_2023-01-12_07-43-15
Source: TradingView

 

  • The rest of the market also charted considerable gains, with ETH trading above $1,400.
  • This left a lot of short positions liquidated. In fact, over $200 million worth of leveraged shorts was liquidated in the past 24 hours alone, according to data from Coinglass. 
  • Interestingly, it was OKX that saw the largest volume of liquidations over the past day.
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