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Bitcoin

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<a href="https://u.today/retail-investors-have-been-stacking-10627-btc-per-day-glassnode" rel="noopener noreferrer nofollow">The Bitcoin price</a> suddenly regained a major six-figure valuation with the $100,000 mark last seen on Tuesday, fresh from the massive liquidation that caused at least $8 billion in losses for traders.
The recent wave of market optimism that pushed the price of the leading cryptocurrency into the six-figure range was driven by the major shifts in the rhetoric of the U.S. monetary macro situation.
With the unemployment rate falling according to the latest data, suggesting a slowdown in inflation, several Fed speakers hinted that the Fed's rate and monetary easing may begin sooner than expected. In short, traders heard a hint of "money printing" and immediately showed their reaction in the market's quotes. <img src="https://u.today/sites/default/files/inline-images/btc_617.png" data-entity-uuid="53494438-0379-4437-9b96-9eae9815f131" data-entity-type="file" alt="&quot;&quot;" data-caption="Bitcoin (BTC) Price by <a href=&quot;https://coinmarketcap.com/currencies/bitcoin/&quot;>CoinMarketCap</a>">
In the middle of this, the bears, or sellers as they are more commonly known, felt the most pain. According to<a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">CoinGlass</a>, the amount of liquidated short positions jumped to over $46 million in the last hour. <img src="https://u.today/sites/default/files/inline-images/cg.png" data-entity-uuid="b558136b-7c46-422b-af74-5cc0c6932428" data-entity-type="file" alt="&quot;&quot;" data-caption="Source: <a href=&quot;https://www.coinglass.com/LiquidationData&quot;>CoinGlass</a>">
To put that in perspective, there was a total of $106 million in short liquidation over the last 24 hours, so almost half of that came from this spike in<a href="https://u.today/just-a-matter-of-time-analyst-forecasts-major-bitcoin-move" rel="noopener noreferrer nofollow">Bitcoin</a> to $100,000.
Since then, the price of<a href="https://u.today/bitcoin-reserve-bill-introduced-by-kentucky" rel="noopener noreferrer nofollow">BTC</a> has cooled off a bit, but such large price movements should not be surprising given the market conditions of the past few days. It would not be surprising to see the price move from $97,000 to $100,000 in the near future.
One thing to keep an eye on, however, is how the price of BTC will hold the weekly close. Should Bitcoin enter next week with a six-figure close near its name, it will maintain the bullish bias for days to come and inject a new sense of optimism into the market. <a href="https://u.today/bitcoin-btc-hits-six-figures-again-details" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Bitcoin (BTC) Hits Six Figures Again: Details

U_Today

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