Friday, February 3

Bitcoin Back at $40,000 Level, Liquidating Over $50M Short Trades Within Hours By Cointelegraph


©Reuters. Bitcoin returns to the $40,000 level, liquidating over $50 million short trades in hours

(BTC) returned to the $40,000 level for the first time in two weeks on Feb 4, as Wall Street volatility turned out to be a boon for BTC bulls.

1-hour candlestick chart of the pair (Bitstamp). Source: TradingViewBTC Short Selloff Setup Data from Cointelegraph Markets Pro and TradingView showed the BTC/USD pair suddenly jumped past $40,000 on Friday, just two hours after Wall Street opened for gains fast.

At the time of writing, the pair rose $3,000 in two hours, an unexpectedly strong performance, which naturally caused significant pain for short sellers.

Read the full article on Cointelegraph

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