After flirting with $55,000 for several days, the The price of Bitcoin It didn't hesitate to jump comfortably above $56,000 as of Monday's close — $56,700, as of writing — despite hitting a higher high, with more than $157 million worth of bitcoin shorts pouring in over the past 24 hours, according to CoinGlass.
In the year It comes hours after BTC soared above $53,000, seeing highs not seen since 2021.
Investors who take a short position on bitcoin are betting that the price will fall when the call option is held – and lose out when the price rises, triggering automatic exchange actions to prevent further losses.
Last 24 hours of cryptocurrency liquidity according to CoinGlass.
BTC is in, then, up 10% intraday—a return that looks good for the annualized return of conventional investment vehicles. And the green candles are being driven by tradfi's hunger for Bitcoin spot ETFs, which also saw an influx of income today.
Top institutional Bitcoin holder Microstrategy has increased its Bitcoin holdings to 193,000 BTC. Founder Michael Saylor tweeted this morning that he had bought 3,000 bitcoins, making that stock $10.28 billion. It is now valued at $10.9 billion, a one-day loss of $620 million.
The company paid on average $51,813 in Bitcoin, Saylor notes.
Image: CoinGecko
It was October 2021 when crypto watchers similarly gasped, watching Bitcoin climb above $57,000—again, as that figure represented an all-time high earlier that year—as a two-week rally continued. It finally reached $69,000 in November.
Today was a good day for Ethereum, with The price of ETH It peaked at $3,273 an hour before Bitcoin's exit. In the year It is a number seen at the end of April 2022. Its value is falling from an all-time high of $4,878 in November 2021.
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