HomeCoinsBitcoin (BTC)Bitcoin Price Hits 13-Month High of $12,200, Liquidating $22M Shorts

Bitcoin Price Hits 13-Month High of $12,200, Liquidating $22M Shorts

- Advertisement -

Bitcoin (BTC) triggered $24 million of liquidations on BitMEX alone Aug. 17 as a fresh move saw markets reclaim $12,000.

Cryptocurrency market daily snapshot, Aug. 17. Source: Coin360

Cryptocurrency market daily snapshot, Aug. 17. Source: Coin360

BTC price “clear fake-out” costs shorters big

Data from Cointelegraph Markets and Coin360 showed BTC/USD hitting $12,200 briefly on Monday.

A subsequent correction managed to erase the gains and more, bouncing at $11,785 to recross the $12,000 mark — all within a matter of minutes.

At press time, Bitcoin circled $12,080, equating to 24-hour gains of 2.5% and the highest price for over a year.

BTC/USD 24-hour chart. Source: Coin360

BTC/USD 24-hour chart. Source: Coin360

Despite the psychological significance of $12,000, few appeared convinced that Monday’s move upwards was a legitimate watershed moment.

“Clear fake-out to take liquidity,” Cointelegraph Markets analyst Michaël van de Poppe summarized.

On BitMEX, the results of the few minutes’ volatility were plain to see — $22.1 million of shorts liquidated on Monday, compared with just $1.7 million the day before.

Keep track of top crypto markets in real time here



First published here

- Advertisement -
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,579FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 44,427.00
ethereum
Ethereum (ETH) $ 3,238.18
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 345.85
litecoin
Litecoin (LTC) $ 140.39
eos
EOS (EOS) $ 2.69
okb
OKB (OKB) $ 23.46
tezos
Tezos (XTZ) $ 4.46
leo-token
LEO Token (LEO) $ 6.80
cardano
Cardano (ADA) $ 1.20
monero
Monero (XMR) $ 184.55
stellar
Stellar (XLM) $ 0.240237
chainlink
Chainlink (LINK) $ 18.62
huobi-token
Huobi Token (HT) $ 10.01
tron
TRON (TRX) $ 0.070059
usd-coin
USD Coin (USDC) $ 0.998756
dash
Dash (DASH) $ 115.21
neo
NEO (NEO) $ 24.07
iota
IOTA (MIOTA) $ 1.02
nem
NEM (XEM) $ 0.121021
zcash
Zcash (ZEC) $ 126.64
maker
Maker (MKR) $ 2,250.33
paxos-standard
Pax Dollar (USDP) $ 0.999012
ethereum-classic
Ethereum Classic (ETC) $ 34.12
vechain
VeChain (VET) $ 0.066878
true-usd
TrueUSD (TUSD) $ 0.998617
ftx-token
FTX Token (FTT) $ 47.94
kucoin-shares
KuCoin Token (KCS) $ 20.80
waves
Waves (WAVES) $ 12.09