CandleFocus Crypto Market Rally Triggers $372 Million in Liquidations
2025-01-16
Author: Content Editor
In the last 24 hours, cryptocurrency liquidations worth $372 million were recorded, with short-position traders being the most affected. Bitcoin surged past the $100,000 resistance level, sparking a rally in altcoins. Short positions on Bitcoin accounted for over half of the liquidation total at $70.57 million, while Ethereum and XRP also experienced significant liquidations. Analysts attribute the massive liquidation to unexpected price movements, as many traders anticipated BTC to fluctuate between $92,000 and $95,000. New projections suggest BTC could reach $249,000 this year. Market watchers are monitoring bullish sentiment and its potential impact in the coming weeks.
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