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Major cryptocurrency<a href="https://u.today/michael-saylor-issues-bitcoin-capitol-tweet-as-btc-seeks-to-regain-70000">Bitcoin (BTC)</a> saw something anomalous on its radar in the last few minutes when, according to<a href="https://www.coinglass.com/LiquidationData">CoinGlass</a> data, short positions, i.e., bearish sellers, were liquidated for $9.46 million in just a few minutes.
Interestingly, however, during the same time period, the number of long liquidations, i.e., bullish buyers, amounted to only $1.1 million. Thus, we have an interesting situation where Bitcoin trading has created an 860% imbalance in liquidations - not in favor of bears.
<img src="https://u.today/sites/default/files/inline-images/bitcoin_24.png" data-entity-uuid="bccf19c2-a2a9-41d8-949c-9b7aa2df0a62" data-entity-type="file" alt="&quot;&quot;" data-caption="Source: <a href=&quot;https://www.coinglass.com/LiquidationData&quot;>CoinGlass</a>">
The reasons for such a discrepancy, of course, should be sought on the price chart of the main cryptocurrency.
<h2 dir="ltr" id="bitcoin-btc-price-outlook">Bitcoin (BTC): Price outlook</h2>
What happened is this - the price of<a href="https://u.today/1600-btc-transferred-to-mysterious-whale-wallet-whats-going-on">Bitcoin</a> literally jumped 2.1% in half an hour, which is huge for an asset currently valued at more than $1.3 trillion. But more importantly, the price of BTC has risen above $70,000 per coin, which is an important local psychological mark.
<img src="https://u.today/sites/default/files/inline-images/bitcoinusdt.png" data-entity-uuid="6a675f8c-22ce-44fc-923f-a9ee80076d27" data-entity-type="file" alt="&quot;&quot;" data-caption="BTC to USD by <a href=&quot;https://coinmarketcap.com/currencies/bitcoin/&quot;>CoinMarketCap</a>">
Of course, as a result of such a powerful not only technical, but also fundamental, move, bears' short positions could not withstand it and were liquidated in a cascade. The funny thing is that it probably also helped the price of Bitcoin to rise so high in such a short period of time.
Now, the<a href="https://u.today/medical-tech-company-wants-to-raise-more-cash-to-buy-bitcoin">price of BTC</a> has rolled back to levels below $70,000 per coin, and according to open interest data, no one is in a hurry to open new positions. <a href="https://u.today/bitcoin-hits-70000-while-bears-face-860-liquidation-imbalance">Read original article on U.Today</a>

Bitcoin Hits $70,000, While Bears Face 860% Liquidation Imbalance

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