BTC Spike Liquidates Almost $900M In Leveraged Positions – July 26

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $38,332

Bitcoin price rapidly spiked upwards by 12% overnight, touching as high as $39,453 in a significant short-squeeze.

Top-20 altcoins have also responded tremendously, as Ethereum gains 8%, Cardano rises 10% and Polygon jumps 16%.

Top Stories for July 26, 2021 πŸ”₯

πŸ‘‰ BTC Spike Liquidates Almost $900M In Leveraged Positions

Bitcoin’s aggressive price action has liquidated $883 million worth of leveraged positions today.

According to crypto analytics website, $720 million of the liquidated positions were short positions, betting against the price of Bitcoin.

The day’s 12% spike has been partially attributed to reports that Amazon may be planning to accept Bitcoin as a payment method in the near future.

πŸ‘‰ Binance And FTX Lower Leveraged Trading Limits To 20x

Crypto exchange giants Binance and FTX have reduced their maximum limits for leveraged trading to 20x, both down from previous limits of 100x or more.

Binance imposed the limit on new users on July 19 and intend to implement this for existing users over time. The move appears to be in response to a tightening of regulations in the sector.

πŸ‘‰ Uniswap “Delists” 100 Tokens From User Interface

In another response to regulatory pressure, Uniswap has removed access to around 100 tokens from its user interface – primarily tokenized stocks, options and insurance-based tokens.

The action was controversial among the crypto community, however Uniswap has clarified that the move only affects Uniswap Labs’ user interface and not the protocol itself.