$700m liquidated as Bitcoin touches $21k amid weekend pump

1 year ago

Bitcoin concisely surpassed $21,000 connected Jan. 13 for the archetypal clip since the FTX saga started successful aboriginal November. After a flimsy retracement aboriginal connected Saturday morning, BTC is priced astatine $20,800 arsenic of property time.

$255m of spot Bitcoin was bought connected Jan.13, portion the liquidation of $240 cardinal Bitcoin shorts liquidated sent Bitcoin to a precocious of $21,300.

Across the broader crypto market, determination were a full of $721 cardinal successful liquidations implicit the past 24 hours, according to Coinglass data. In addition, a full of 132,021 traders were liquidated, with the astir important liquidation being a $6.84 cardinal abbreviated stake against Bitcoin.

Interestingly, portion determination person been plentifulness of BTC purchases implicit the past day, the measurement of Bitcoin leaving exchanges deed an aboriginal year-to-date high. The bulk of exchange-purchased Bitcoin was withdrawn astir instantly arsenic $255 cardinal of Bitcoin moved into self-custody.

Most withdrawals were made successful ample installments of $1 cardinal and above. Further, the biggest radical was those withdrawing implicit $10 cardinal of BTC, suggesting organization action.

Bitcoin continued to permission exchanges overnight connected Jan. 13 arsenic the full worth of Bitcoin held connected exchanges dropped to conscionable 2.24 cardinal BTC.