Bitcoin Surges Toward $70K as $1.14 Billion in Crypto Shorts Get Rekt in an Hour
In brief Bitcoin jumped as much as 9.3% this week, hitting an intraday high of $69,749 and trading near $68,689, up sharply from the week's open at $62,832. CoinGlass's Total Liquidations panel shows $1.14 billion in short positions wiped out across crypto in the last hour, with Bitcoin alone accounting for $677.64 million of the hour's liquidations.
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Key Facts
- Fact 1: In brief Bitcoin jumped as much as 9.3% this week, hitting an intraday high of $69,749 and trading near $68,689, up sharply from the week's open at $62,832.
- Fact 2: CoinGlass's Total Liquidations panel shows $1.14 billion in short positions wiped out across crypto in the last hour, with Bitcoin alone accounting for $677.64 million of the hour's liquidations.
- Fact 3: Bitcoin is barreling toward $70,000 again.
- Fact 4: The largest crypto by market cap touched an intraday high of $69,749 Wednesday and was recently trading near $68,689, up 9.3% on the week per Bitcoin price data on Bitstamp.
In brief Bitcoin jumped as much as 9.3% this week, hitting an intraday high of $69,749 and trading near $68,689, up sharply from the week's open at $62,832. CoinGlass's Total Liquidations panel shows $1.14 billion in short positions wiped out across crypto in the last hour, with Bitcoin alone accounting for $677.64 million of the hour's liquidations.
The rally comes hours ahead of a White House meeting between President Trump, crypto executives, and top regulators, plus the Federal Reserve's July meeting minutes, both due Wednesday. Bitcoin is barreling toward $70,000 again. The largest crypto by market cap touched an intraday high of $69,749 Wednesday and was recently trading near $68,689, up 9.3% on the week per Bitcoin price data on Bitstamp.
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Original source: Decrypt
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