The liquidation of more than 300 million dollars, coinciding with the rise in the price of Bitcoin to levels of 43 thousand dollars


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The volatility and fluctuation of prices in the cryptocurrency market has led to liquidations worth over $300 million.

The 15% rise in the price of Bitcoin, say, in a single day, became its biggest rally in over a year.

Russian President Vladimir Putin’s special military operation against his western neighbor caused massive turmoil in financial markets last week.

Bitcoin is a highly volatile asset, with Bitcoin dropping around $5,000 a day bringing its price to a monthly low of $34,000.

The cryptocurrency then recovered just as quickly the next day as no other country wanted to be directly involved in the ongoing war between the two countries.

This led to a period of Bitcoin sideways rallies, as the Bitcoin price has been hovering around $38,000 for a few days.

In the last 24 hours the situation has changed.

Bitcoin moved from its previous level, broke through $40,000, and continued its climb to a 12-day high of just over $44,000.

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Rising more than 15% on the day, Bitcoin recorded the largest daily increase in price since February 2021, when it pumped nearly 20%.

Most of the altcoins made significant gains as well, which led to a large number of liquidations.

According to Coinglass data, more than 60,000 traders’ positions were destroyed in the past day, and liquidations totaled more than $300 million.

The largest single liquidation order (worth over $11 million) occurred on Binance.

Read also:

Bitcoin Trading Volumes in Russia Reaches Highest Level Since May 2021

The co-founder of “Steam” explains the reason for stopping the acceptance of Bitcoin as a payment method!

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