Bitcoin Makes a Strong Comeback, Surpassing $65,000 While Altcoins Take the Spotlight!
Bitcoin has had a rocky few months, experiencing a decline in April and dropping to $56,000 in May. However, the leading cryptocurrency has seen a resurgence in the past five days, starting the week on a positive note and surpassing the $65,000 mark today.
Interestingly, Bitcoin’s rise has been accompanied by a surge in altcoins as well. Ethereum (ETH), the second-largest cryptocurrency, reached an impressive price of $3,200. Other altcoins also made significant gains, with Solana (SOL) surpassing $150 and Worldcoin (WLD) emerging as the most profitable altcoin with a staggering 21% increase.
In the realm of artificial intelligence altcoins, Fetch.ai (FET) saw a rise of 12.4%, while SingularityNET (AGIX) gained 10.7% in the last 24 hours. These notable increases in both Bitcoin and altcoins have left investors who had short positions in a difficult spot, leading to a wave of liquidations.
According to CoinGlass data, a total of $98.6 million was liquidated in crypto futures within the last 24 hours. Of this amount, $71.6 million was from short positions, while $26.9 million came from long positions. Furthermore, a significant number of 46,377 investors faced liquidations during this period, with the largest liquidation occurring in the ETH-USDT transaction on the OKX exchange.
As always, it is essential to note that this information is not intended as investment advice.