Bitcoin's price surged above $57,000, leading to a broader rally in the crypto market. The global crypto market cap increased by 7% to $2.25 trillion, with trading volumes also rising significantly. This resulted in over $380 million in crypto liquidations in the past 24 hours, with Bitcoin and altcoins funding rates reaching high levels. Additionally, options traders are predicting a strike price of $60K or even $70K before the upcoming Bitcoin halving, while BTC futures open interests on Binance and CME hit record highs.
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Crypto Market Sees $380 Million in Liquidations as Bitcoin Price Rallies Over $57,000
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