Bitcoin (BTC) added over 11% in the past 24 hours to trade above $24,700 on Tuesday, retracting all losses from over the weekend and setting a three-week high. The movement possibly came as a surprise to traders who may have otherwise bet on declining prices after two key crypto-friendly banks were shut last week and USD Coin (USDC), a major stablecoin, depegged. Over $100 million worth of bitcoin shorts, or bets against a rise in prices, was liquidated on Monday. This was the highest liquidated amount since Jan.14, when a bitcoin surge caused $500 million in liquidation across several crypto futures. (Coindesk)
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Bitcoin Crosses $24.7K, Sees Highest Liquidations in Two Months
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