Bitcoin (BTC) has pumped nearly 5%, while Ethereum (ETH) pumped nearly 10% over the past 24 hours. This resulted in shorts worth $800m being liquidated.
The overall crypto market cap pumped by nearly 5%. This has resulted in a short squeeze worth over $800 million, according to data from Coinglass. The pump liquidated over 100,000 traders in 24 hours. The largest single liquidation order happened on the Okex exchange in ETH-USDT-SWAP worth $3.05m.
The overall crypto market cap
In a 4-hour timeframe, the crypto total market cap formed an inverse head and shoulder. It broke the neckline at 901.6bn and spiked to 944bn. The one trillion dollar mark will be a huge psychological resistance.
Bitcoin price action
BTC showed similar price action to the crypto total market cap chart. In a 4-hour timeframe, it brokeout of an inverse head and shoulder. The volumes during the breakout were more than three times the average…
