Bitcoin (BTC) has gone up by more than 8% in the past 24 hours and has rallied from $62,000 to $77,000 in just 5 days after a series of developments triggered a massive short squeeze across the crypto market.
Short liquidations in the past 24 hours alone surged to $1.2 billion and are now amounting to more than $4.4 billion, most of which came from blown-up BTC shorts.
The U.S. Securities and Exchange Commission (SEC) announced a couple of days ago a series of rules for the crypto market that front-run the approval of the Clarity Act. This move reassured the market that the current administration will do its best to support the sector's growth.
Moreover, President Donald Trump met with crypto executives at the White House and reiterated his commitment to push this key piece of legislation until it makes its way to his desk — ideally, this year.
Market participants reacted quite positively and fully ignored yesterday's hawkish comments found in the last FOMC minutes.
#market #Crypto #securities
Short liquidations in the past 24 hours alone surged to $1.2 billion and are now amounting to more than $4.4 billion, most of which came from blown-up BTC shorts.
The U.S. Securities and Exchange Commission (SEC) announced a couple of days ago a series of rules for the crypto market that front-run the approval of the Clarity Act. This move reassured the market that the current administration will do its best to support the sector's growth.
Moreover, President Donald Trump met with crypto executives at the White House and reiterated his commitment to push this key piece of legislation until it makes its way to his desk — ideally, this year.
Market participants reacted quite positively and fully ignored yesterday's hawkish comments found in the last FOMC minutes.
#market #Crypto #securities
2 months ago
