Bitcoin Dominance Rises To Highest Level In Two Years – April 11

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$30,244

Bitcoin price has broken through the $30,000 mark with strength, reclaiming the milestone for the first time since June 2022.

Top-20 altcoins are performing well also, as Ethereum gains 3%, BNB rises 6% and Solana sees a strong 16% rally.

Top Stories for April 11, 2022 🔥

👉 Bitcoin Dominance Rises To Highest Level In Two Years

Bitcoin’s dominance in the crypto market reached 45%, the highest since May 2021, due to its price surge this year. The phenomenon has been unusual, due to Bitcoin dominance usually rising when altcoin prices decrease – rather than a Bitcoin-only run.

Digital asset investment products saw inflows of $57 million last week, with Bitcoin representing 98% of those inflows. The Shapella upgrade is set for this week on the Ethereum network, but inflows were relatively minor at $600,000.

👉 Short Positions On Bitcoin Made Up 87% Of Liquidations As Price Crosses $30k

More than 87% of all liquidated futures contract trades on Bitcoin over the last 24 hours were short (betting against a price increase), with losses for those traders totalling around $145 million.

Crypto exchange Huobi had the highest amount of liquidations, with over $45 million. Large liquidations may indicate a local top or bottom of a price move. Bitcoin’s recent strength is attributed to worsening economic conditions, leading to its adoption among investors instead of traditional investments.

👉 US SEC Looks To Hire Attorneys For Crypto & Cyber Unit

The US Securities and Exchange Commission (SEC) is hiring general attorneys in New York, San Francisco, and Washington DC for its Crypto Assets and Cyber Unit.

Successful candidates will be tasked with conducting investigations involving crypto-asset securities and cyber issues, among other related duties. The move follows the SEC’s recent call for nearly $2.4 billion in funding for the purpose of chasing down crypto “misconduct”.

However, not all regulatory authorities are on board with the SEC’s approach, with some questioning Chair Gary Gensler’s methods of industry oversight.