Liquidations Continue To Rock The Market As Bitcoin Breaks $47,000

Bitcoin liquidations had ramped up on Monday as the price of the digital asset had gone up drastically. These traders had been liquidated very fast with millions of dollars gone in a matter of minutes. However, it did not end there, given that the price of the cryptocurrency has not slowed down since then. And as the price of bitcoin has continued to grow, the liquidations have not slowed down either. Bitcoin Liquidations On The Rise Although the current liquidations are not as high as that recorded on Monday, they are still significant nonetheless. These liquidations had touched as high as $140 million for bitcoin, and once again have beat the $100 million mark in 24 hours. Related Reading | Why Bitcoin Could See A 2020 Like Rally Most of these are short traders who had bet on the price of bitcoin coming down. As always, the market will do what it does and had gone in the opposite direction. But even after the expected slow down after surging past $46,000. Instead, the digital asset had continued on its recovery trend. After successfully breaking above $47,000, the short liquidations had ramped up once more. BTC settles above $47,000 | Source: BTCUSD on TradingView.com In the last 12 hours, BTC alone has seen more than $14 million in liquidations. While the 24-hour time frame paints a grimmer picture. Over $119 million in liquidations have been recorded in the past day. Most of these have been from short traders who...