Liquidations Top $400 Million as Ethereum (ETH) Nears $4,000, Bears in Disbelief
Main Idea
The cryptocurrency market saw significant gains in the past 24 hours, driven by bullish factors including a favorable executive order from Donald Trump regarding Ripple's legal case.
Key Points
1. Bitcoin (BTC) rose to approximately $117,000, while Ethereum (ETH) surged 5% and approached $4,000.
2. Ripple’s XRP increased by 12% to $3.36, and Stellar (XLM) reached a two-week high of $0.46.
3. The market uptick was partly attributed to Donald Trump’s executive order allowing 401(k) investors access to the Ripple v. SEC case.
4. Over $400 million in liquidations occurred in 24 hours, with ETH short positions accounting for $187 million.
5. The largest single liquidation order was on HTX, involving ETH/USDT and valued at $34.28 million, with 113,178 traders liquidated.
Description
The cryptocurrency market experienced a substantial revival in the past 24 hours, with Bitcoin (BTC) climbing to approximately $117,000. The leading altcoins performed even better: Ethereum (ETH) surged by 5% daily and is inching towards $4,000, Ripple’s XRP pumped by 12% to $3.36, while Stellar (XLM) reached a two-week high of $0.46. The sudden uptick in the market was caused by bullish factors, including Donald Trump’s executive order that aims to allow 401(k) investors access to alternative a...
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