13 hours ago
Bitcoin climbed past $99,000 connected Christmas day, driven by renewed optimism that energized the market.
According to CryptoSlate’s data, the starring integer plus gained implicit 5% successful the past 24 hours, recovering from a play debased of $92,973. At the clip of writing, Bitcoin was trading astatine $98,000, showing the rebound wasn’t long-lived aft days of declining prices.
Altcoins joined the recovery, with Ethereum, XRP, and Solana each posting gains of implicit 4%.
Notably, this momentum has lifted the planetary crypto marketplace headdress by 3.5% to $3.44 trillion. At the aforesaid time, the Crypto Fear and Greed Index climbed to 73, showing a sentiment of “Greed.”
This bullish inclination aligns with forecasts from Santiment, a blockchain analytics firm. The level highlighted that marketplace rebounds often travel panic-driven retail sell-offs, allowing larger investors, oregon “whales,” to accumulate assets astatine discounted prices.
It stated:
“Historically, erstwhile retail traders statesman to merchantability based connected panic and emotion, whales and sharks person opportunities to scoop up much coins with small resistance, creating bounces.”
$300 cardinal successful liquidations
The caller rally has not travel without its stock of turbulence. Data from CoinGlass revealed that implicit $290 cardinal was liquidated successful the past 24 hours, impacting 105,883 traders.
Short positions accounted for astir of these losses, with $162 cardinal wiped retired arsenic Bitcoin prices climbed. On the different hand, traders with agelong positions betting connected further upward momentum faced $128 cardinal successful liquidations.
Bitcoin traders experienced the heaviest liquidation losses, with $78 cardinal wiped out, followed by Ethereum traders, who saw $51 cardinal successful liquidations.
Meanwhile, the largest azygous liquidation occurred connected Okx, involving a $6.9 cardinal ETH-USDT transaction, underscoring the market’s heightened volatility.
The station Bitcoin sees little rebound to $99,000 connected Christmas day appeared archetypal connected CryptoSlate.
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