The Bitcoin price experienced a 6% increase in the last 24 hours, taking it to over $58,000 before settling at around $57,527. The exact reason for this rise is unclear but may be linked to higher closing rates in the US stock markets. However, following the increase, a series of liquidations occurred in the crypto market, particularly affecting short positions. A total of $170 million was liquidated, with $138 million being from short positions. It is uncertain what caused the Bitcoin price to drop below $60,000, but it may have been influenced by statements from FED officials suggesting a potential recession in the US.



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