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Bitcoin Tops $41K Leaving Close to $150M in Short Positions Liquidated

Bitcoin’s price continues increasing throughout the last few days, causing all sorts of havoc on the derivatives markets.

The cryptocurrency managed to top $41K for the first time in some 19 months. The last time it traded above this mark was back in April 2022.

Source: TradingView

According to data from Coinglass, this latest move caused a total of $190 million worth of liquidated derivatives positions. $150 million of those were short.

Bitcoin’s dominance – the metric used to gauge its share relative to that of the rest of the market – has also spiked following the latest increase in price. It’s currently standing at 50.5%, which means that BTC has performed better compared to the altcoin market.

Nevertheless, most altcoins are also well in the green. Ethereum (ETH) is trading above $2.2K, marking an increase of 4.1% on the day and 10% on the week. Ripple’s XRP is also up by 2% in the past 24 hours.

This article first appeared at CryptoPotato

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