4 months ago
9 ARTICLE AD
Crypto liquidations surge as Bitcoin price hits $70,225 per coin, driven by new ETF investments.
Bitcoin has once again breached the $70,000 mark, reaching $70,225 per coin for the first time in over a month, marking its highest level since April 12.
The 6% surge in 24 hours, as reported by CoinGecko, highlights a strong bullish sentiment from investors flooding newly approved spot Bitcoin exchange-traded funds (ETFs) with capital.
The recent surge in Bitcoin’s price comes as positive market sentiment and institutional interest grow. The upward trajectory began in late February, with Bitcoin rising from around $47,500 to approximately $55,000 by early March. This initial rise was followed by a period of bullish momentum, with the alpha crypto peaking at roughly $62,500 before the week closed. As the second week of March came in, Bitcoin reached the $70k level.
This peak represented a period of intense buying activity and market enthusiasm, driven by speculation and heightened interest in the crypto market.
Today’s surge to $70,225, influenced by the US Bureau of Labor Statistics report showing lower-than-expected inflation in April, suggests that the Federal Reserve might cut interest rates, making assets like Bitcoin more attractive compared to traditional investments.
The general trend from February to May indicates a bullish market sentiment, with significant price increases and sustained periods of high trading volume. Over the past 24 hours, over $235 million in crypto positions were liquidated, with $63 million in Bitcoin short positions alone, highlighting the intense market activity and investor optimism.
The recent speculation that the SEC might approve spot Ethereum ETFs with a 75% chance has also contributed to the bullish momentum.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
