{"id":27199,"date":"2024-03-06T02:28:12","date_gmt":"2024-03-06T02:28:12","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-sets-new-all-time-high-ushers-in-1b-crypto-market-shakeout\/"},"modified":"2024-03-06T02:28:12","modified_gmt":"2024-03-06T02:28:12","slug":"bitcoin-sets-new-all-time-high-ushers-in-1b-crypto-market-shakeout","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-sets-new-all-time-high-ushers-in-1b-crypto-market-shakeout\/","title":{"rendered":"Bitcoin Sets New All-Time High, Ushers in $1B Crypto Market Shakeout"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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On Tuesday, Bitcoin<\/a> soared to an unprecedented peak in US dollars, surpassing its prior high of $69,000 recorded on November 10, 2021. However, the celebration was short-lived as Bitcoin experienced a 10% drop from its record high, leading to $1 billion in cryptocurrency liquidations and a tumultuous market scenario for leveraged traders.<\/p>\n

The digital currency reached a new pinnacle at $69,200 before facing a sharp decline to $59,700, igniting a wave of liquidations. This drastic correction wiped out more than $1 billion in leveraged positions across various digital assets, according to CoinGlass. The volatile market conditions resulted in the elimination of approximately $1.1 billion in derivatives trading positions within 24 hours, with long positions\u2014or bets on increasing prices\u2014constituting $870 million of the total liquidations reported by CoinGlass.<\/p>\n

At the time of writing, Bitcoin\u2019s price stands at $63,397, according to CoinMarketCap data.<\/p>\n

The surge in Bitcoin\u2019s value was notably influenced by the introduction of several U.S. Bitcoin spot Exchange-Traded Funds (ETFs) in January, attracting a significant number of institutional investors previously unable to directly hold the cryptocurrency. The rally was particularly sparked by the opening of the U.S. stock market at 9:30 am ET, highlighting the impact of ETFs on Bitcoin\u2019s daily trading dynamics.<\/p>\n

This milestone not only marks a big win in USD terms but also underscores Bitcoin\u2019s strength against other major currencies such as the Australian dollar, Canadian dollar, euro, and British Pound. The rally led to $536 million in total liquidations within a day, with $286 million from short positions, showcasing the high stakes involved in Bitcoin trading.<\/p>\n

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250% Extra + $125 Free Chip!<\/strong><\/strong> <\/p>\n

New players only. 250% on 1st Deposit + $125 Free Chip<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Interestingly, this record-setting event defies the historical pattern of Bitcoin reaching new highs only after its \u201chalving<\/a>\u201d events, which halve the rate of new coin creation. This deviation from tradition comes as the next halving is anticipated in April 2024, signaling a potentially new era for Bitcoin\u2019s market dynamics and investor sentiment.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) On Tuesday, Bitcoin soared to an unprecedented peak in US dollars, surpassing its prior high of $69,000 recorded on November 10, 2021. However, the celebration was short-lived as Bitcoin experienced a 10% drop from its record high, leading to $1 billion in cryptocurrency liquidations and a […]<\/p>\n","protected":false},"author":5,"featured_media":27200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/27199"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=27199"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/27199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/27200"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=27199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=27199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=27199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}