The number of liquidations, especially liquidated shorts, have gone through the roof as BTC exploded by almost $2,000 in a day.
Somewhat surprisingly, the crypto market reacted quite well to the latest interest rate hike from the US Fed, with prices soaring to new weekly highs. As such, the number of liquidated traders on a daily scale is over 90,000, while the total value of liquidations is $400 million.yesterday, the primary cryptocurrency had retraced from last week’s high and stood around $21,000 after briefly dipping below that level.
The US central bank hiked the rates by 75 basis points and said it will continue to increase them throughout the year to fight inflation. The next FOMC meeting will be in two months – in late September.brought volatility to the crypto markets. This time, though, it was in terms of rapid price gains. Bitcoin jumped to $22,000 almost immediately but only kept climbing and tapped a six-day high of over $23,000 hours later. Despite retracing slightly since that local peak, the cryptocurrency is still 9% up on the day.
The altcoins experienced even more impressive gains. As of now, ETH is 14% higher than yesterday, and more double-digit price pumps are evident from Solana, Polkadot, MATIC, and others.are up to $400 million on a daily scale. The number of wrecked traders sits above 90,000, and the single-largest liquidation order involved the ETH-USD trading pair on Huobi, worth more than $2 million.
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