The cryptocurrency market in India witnessed a significant wave of liquidations in the past 24 hours, resulting in total losses of $635.9 million, with a major portion coming from short positions. Bitcoin (BTC) led the liquidation charts by wiping out $293 million in short positions as it surged past $94,000, marking a 6.29% gain within a day. Ether (ETH) followed suit with over $109 million in short liquidations as its price climbed nearly 10% to $1,787. Exchanges like Binance, Bybit, and OKX experienced substantial liquidation volumes, primarily targeting short positions. Amid the market volatility, crypto analyst Mister Crypto highlighted the accumulation of liquidity around the $100,000 level for Bitcoin, hinting at a potential short squeeze that could drive BTC closer to six figures. A short squeeze occurs when a rapid price increase forces traders betting against the market to cover their positions, leading to further upward momentum. While Bitcoin surged to a 45-day high above $94,000 on April 23, opinions vary on whether it will reach $100,000 soon. Vincent Liu, chief investment officer at Kronos Research, emphasized that factors like the outcome of the May 6 Federal Open Market Committee meeting and ongoing trade negotiations will play a crucial role in determining Bitcoin’s future price movements. US monetary policy is expected to be pivotal in deciding if Bitcoin can reach the coveted $100,000 milestone.<\/p>\n","protected":false},"excerpt":{"rendered":"
The cryptocurrency market in India witnessed a significant wave of liquidations in the past 24 hours, resulting in total losses of $635.9 million, with a major portion coming from short positions. Bitcoin (BTC) led the liquidation charts by wiping out $293 million in short positions as it surged past $94,000, marking a 6.29% gain within […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/106639"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=106639"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/106639\/revisions"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=106639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=106639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=106639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}