Bitcoin Liquidates $660M In Shorts As BTC Price Rallied Past $78K
Cointelegraph
Bitcoin rallied past $78,000, triggering over $660 million in short liquidations as market indicators suggest potential for further bullish momentum.Summary
Bitcoin surged to a 10-week high above $78,000, causing a massive liquidation of over $660 million in short positions, with Bitcoin and Ether leading the losses. The rally, fueled by cooling geopolitical tensions, was bolstered by a 13% increase in futures open interest. Furthermore, analysts point to a bullish MACD weekly cross, a technical indicator that has historically preceded significant price increases, as a potential sign of continued upward movement with targets reaching $90,000.
(Source：Cointelegraph)