NEW YORK – saw a significant rally today, reaching a high of $44,200 on Bitstamp during the first hour of US trading. The leading cryptocurrency then stabilized at around $43,945. This surge has had a significant impact on the cryptocurrency market, leading to over $160 million in liquidations. Short positions bore the brunt of this movement, with about $92 million liquidated.
The price action signals strong bullish market sentiment and underscores Bitcoin’s important influence on the positive trajectory of the broader market.
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