Bitcoin hits new year-to-date high of $36.8k amid $160 million market liquidations

exchange68September 12, 2024

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Quick Take

Bitcoin surged over 4% in the past five days and hit a new year-to-date high at $36,800 on Nov. 9. This climb towards $37,000 shows a steady increase in investor confidence in Bitcoin, even as the broader market faces volatility.

Nevertheless, the crypto industry isn’t without its share of turbulence. Over the past 12 hours, the market has seen $117 million in liquidations, with short liquidations accounting for $100 million, data from Coinglass showed.

Despite its rally, Bitcoin contributed $62 million to the total liquidations, $57 million of which were shorts.

In a broader 24-hour scope, the total liquidations in the industry have reached $160 million.

Liquidation Map: (Source: Coinglass) — Graph showing the liquidation map between Nov. 6 and Nov. 9, 2023 (Source: CoinGlass)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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