Pepe

Memecoin

Bitcoin

Shiba Inu

<p class="is-style-lead">The liquidations of traders’ positions on major crypto exchanges due to jumps in cryptocurrency rates over the past 24 hours exceeded $220 million.</p> 
<p>According to Coinglass, on March 4 most liquidations were in Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>), with almost $60 million. Traders also liquidated positions in Ethereum (<a href="https://crypto.news/price/Ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) amounting to $26.84 million. It is noteworthy that traders actively closed their positions in meme coins, including Dogecoin (<a href="https://crypto.news/price/dogecoin/">DOGE</a>), Pepe (<a href="https://crypto.news/price/Pepe/">PEPE</a>), Memecoin (<a href="https://crypto.news/price/memecoin/">MEME</a>), and Shiba Inu (<a href="https://crypto.news/price/Shiba-Inu/" target="_blank" rel="noreferrer noopener">SHIB</a>). DOGE and PEPE accounted for the most liquidations in this category – $18.12 million and $12.27 million, respectively.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="622" src="https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-04-at-10.41.21-1024x622.png" alt="Traders sell off meme coins amid Bitcoin jump to $64k - 27" class="wp-image-14255015">
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure> 
<p>The most significant liquidations occurred on the <a href="https://crypto.news/tag/binance/" target="_blank" rel="noreferrer noopener">Binance</a> cryptocurrency exchange for $88.72 million, followed by OKX which saw $82.59 million in liquidations. </p> 
<p>On March 4, the Bitcoin rate exceeded $64,000. At the time of writing, BTC is trading at $64,050, having gained almost 4% over the past 24 hours. BTC increased its price by more than 24% in just a week.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="583" src="https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-04-at-10.57.22-1024x583.png" alt="Traders sell off meme coins amid Bitcoin jump to $64k - 28" class="wp-image-14255011">
 <figcaption class="wp-element-caption">
  Source: CoinMarketCap
 </figcaption>
</figure> 
<p>Matrixport analysts emphasize that the institutional side is now intertwined with physical demand. The supply and demand imbalance continues to drive BTC prices higher.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> bull market continues. Demand from <a href="https://twitter.com/hashtag/institutions?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#institutions</a> has been mixed with a reawakening of <a href="https://twitter.com/hashtag/retail?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#retail</a> flow. The supply/demand imbalance continues to favor higher prices of Bitcoin. <br><br>Access the full chart for insights: <a href="https://t.co/gs16gkYJ7e" target="_blank">https://t.co/gs16gkYJ7e</a> <a href="https://t.co/mip4veZciB" target="_blank">pic.twitter.com/mip4veZciB</a></p>— Matrixport (@realMatrixport) <a href="https://twitter.com/realMatrixport/status/1764518508237627744?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 4, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>K33 experts also <a href="https://crypto.news/etfs-will-bitcoin-hit-a-fresh-all-time-high-in-2024/" target="_blank" rel="noreferrer noopener">note</a> in their report that Bitcoin exchange-traded funds (<a href="https://crypto.news/tag/etf/" target="_blank" rel="noreferrer noopener">ETFs</a>) have emerged as a significant topic, particularly concerning their potential to fuel the BTC price to surpass its previous all-time high (<a href="https://crypto.news/tag/ATH/" target="_blank" rel="noreferrer noopener">ATH</a>) of nearly $70,000. Another growth driver will be the upcoming halving in the spring of 2024.</p> 
<p> Read more: <a href="https://crypto.news/bitcoin-price-prediction-btc-new-high/"> Bitcoin surge 2024: factors driving record highs and future predictions </a> </p>

Traders sell off meme coins amid Bitcoin jump to $64k

crypto.news

Other articles published on Mar 4, 2024

Crypto Mining Survey Controversy: U.S. Energy Officials to Destroy Collected Data

'Crazy Stuff': Daredevil Investor Goes Into Debt By Maxing Out 8 Credit Cards To Buy Bitcoin

Why DeeStream (DST) Presale Rockets Alongside Solana (SOL) & Bitcoin (BTC) Hitting 20% In 7 days

Bitcoin ETFs Dominate BTC Accumulation Despite Withdrawals From Grayscale’s GBTC

“Crypto Mom” Hester Peirce Criticizes SEC’s Way of Regulating Crypto

Ethereum Price Prediction: How Far Will Meme Coins DOGE, SHIB, PEPE Drive Altcoins Rally As ETH S...

Join our free newsletter for daily crypto updates!