Boutique Media & consulting group
BTC$64326
ETH$3133
BNB$603
XRP$0.52
BTC price has crossed its thirteen-month high of twelve thousand and two hundred USD. This has led to the liquidation of around twenty-two million USD worth of short positions.
An abrupt upsurge to twelve thousand and two hundred USD resulted in immediate pain for short position holders as an analyst pronounced it as a visible fake-out to take liquidity.
On 17th August, Bitcoin prompted twenty-four million USD worth of liquidations on BitMEX exchange alone as a new move witnessed markets reclaim the twelve thousand USD level.
An ensuing correction in price erased the gains and more, bouncing at around eleven thousand seven hundred USD to again cross the twelve thousand USD level.
At the time of reporting, BTC is changing hands at around $12,316 showing a twenty-four-hour gain of 3.72 percent and the uppermost price for over a year.
Notwithstanding the psychological significance of the twelve thousand USD level, several individuals looked persuaded that Monday’s move upwards was a genuine watershed moment.
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