Bitcoin peaked at $41K with short positions close to $150M in liquidity
The price of Bitcoin has continued to rise over the past few days, causing all sorts of havoc in commodity markets.
The cryptocurrency topped $41K for the first time in 19 months. It last traded above this mark in April 2022.
According to data from Coinglass, this latest activity resulted in liquid derivatives positions totaling approximately $190 million. Of that, $150 million was short.
Bitcoin's dominance – a measure used to measure its share relative to the rest of the market – has also increased following the recent price hike. It is currently at 50.5%, which means that BTC has performed better compared to the altcoin market.
However, most altcoins are also in good green. Ethereum (ETH) is trading above $2.2K, which shows an increase of 4.1% for the day and 10% for the week. Ripple's XRP is up 2% in the last 24 hours.
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