Bitcoin Hits 9-Month High of $85,299 as $450M in Shorts Get Liquidated
- —$450M in shorts liquidated in four hours; $750M in 24 hours, $650M of it shorts
- —Bitcoin up 6% to $85,299 with trading volume up 58% in 24 hours
- —BTC saw about $300M in liquidations, ETH $72M
- —Market cap up 2.25% to $2.87 trillion; Fear & Greed Index at 70
Why it matters: A weekly close above the 50-week moving average for the first time since November is seen by analysts as confirmation of a bear market bottom.
Source: CoinGape