Bitcoin surge triggers $100 million shockwave in crypto market

exchange68September 12, 2024

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Quick Take

The recent surge of Bitcoin, pushing its price above the $26,000 mark, has triggered notable ramifications in the crypto ecosystem. In a span of 24 hours, Bitcoin-associated liquidations have soared over $100 million, an event reflecting the intense volatility and high-stakes trading environment inherent to the cryptocurrency market. Interestingly, this ripple effect extended across the broader crypto ecosystem, as evidenced by the substantial $178 million worth of liquidations reported across all cryptocurrencies during the same 24-hour timeframe.

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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