Bitcoin Liquidates $80M In Short Positions, Hits $25K – February 16

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$24,882

Bitcoin price briefly broke the $25,000 mark this morning, currently sitting just below the key level as the market awaits a continuation or reversal.

Top-20 altcoins have had large moves across the board, as Ether gains 9%, BNB rises 7% and Polygon rallies 12% over the last 24 hours.

Top Stories for February 16, 2022 🔥

👉 Bitcoin Liquidates $80M In Short Positions, Hits $25K

Bitcoin has liquidated more than $80 million in short positions over the last two days, in a move that touched $25,000 for the first time since mid-August last year.

$65 million of these liquidations occurred yesterday alone – the most short liquidations in a single day since January.

Some analysts warn over a potential reversal, however, pointing to new US Producer Price Index (PPI) figures, renewed strength in the US dollar index (DXY) and the first ever “death cross” on the weekly Bitcoin chart.

👉 Robinhood Crypto Trading Volume Almost Doubled In January

Robinhood reported that cryptocurrency trading volumes in January increased by 95% to $3.7 billion compared to the previous month – blowing other asset classes out of the water in terms on month-over-month increases.

Equities trading volumes were up 19% to $46 billion, and option contracts were up 10% to 82.9 million. The company’s monthly active users at the end of January were 12 million, with $74.7 billion in assets under custody.

👉 2 Largest Mt Gox Creditors Choose Payout In BTC

Two major creditors of failed crypto exchange Mt. Gox – Bitcoinica and MtGox Investment Funds – have chosen to receive their bankruptcy recovery payments mostly in Bitcoin.

The decision may quell concerns over a rapid liquidation of Bitcoins owed to creditors, which Bitcoin holders were worried may significantly impact the market price.

They will receive 90% of their collectible funds, calculated at approximately 21% of what they had locked on the platform at the time of the 2014 hack.