Crypto market liquidations hit $820M as Bitcoin price taps $78K
Nearly a billion dollars in leveraged crypto positions were liquidated in the past 24 hours as the Bitcoin price rallied above $78,000.
Bitcoin (BTC) rallied above $78,000 to hit another 10-week high on Friday as crypto and equity markets reacted to cooling tensions in the US and Israel war in Iran. The rally above range highs also resulted in a large liquidation of leveraged Bitcoin positions.
More than $660 million in short positions were liquidated, with Bitcoin accounting for $353 million of that total. Ether (ETH) followed with $160 million in short liquidations.
Related: Three things Bitcoin must do to hold highs above $76K: Analysts