More than $55 million in cryptocurrency shorts have been wiped out in the past 12 hours, as Bitcoin BTC/USD crossed the $26,000 mark.
What Happened: Data from CoinGlass shows that in the past 12 hours, $69 million worth of cryptocurrencies were liquidated.
The largest single liquidation order happened on OKX, where BTC worth $2.33 million was liquidated.
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At the time of writing, Bitcoin was up 6.62% in the last 24 hours, trading at $26,214. Apex crypto jumped 24% over the past seven days, the largest gain among the top 10 non-stablecoin cryptocurrencies by market capitalization.
Data from Glassnode shows that the percentage of Bitcoin last active for two or more years has just reached a new all-time high of 52.286%.
Read More: Bitcoin, Ethereum, Dogecoin Rise Amid Tight Labor Market: Analyst Says Cryptoverse Could ‘Look More Attractive’ Than Equities
This article has been originally published at: https://www.benzinga.com/markets/cryptocurrency/23/03/31392922/over-55m-crypto-shorts-blown-away-in-12-hours-as-bitcoin-crosses-26k?SNAPI