Bitcoin Surges Above $61K Resulting in $100 Million in Liquidations
The price of Bitcoin has climbed above $61K, leading many to believe that the bulls are back and a larger rally is on the horizon. Within the past 24 hours, BTC has experienced a gain of over 4%.
Notably, the price surge occurred during the last hour, with relatively lower volatility leading up to it. This sudden movement has consequently caused over $100 million in liquidations in the derivatives market over the course of the day.
Interestingly, the heightened volatility coincides with an attempted assassination on Donald Trump, the Republican presidential candidate in the US. Trump’s official statement confirmed that he had been shot in the upper part of his ear following a shootout during his recent rally in Pennsylvania. Images of Trump being escorted by US Secret Service agents with blood on his face have circulated widely.
In connection with these events, various meme coins associated with Donald Trump have seen significant spikes in value over the past 24 hours.