Bitcoin's sudden price rally not only caught the market's attention but also triggered a seismic shift within the futures trading landscape. With volumes skyrocketing overnight, a more profound story began to unfold, one that hinged on the fate of short sellers. The staggering volume of short liquidations could spell a crucial turning point for Bitcoin's trajectory. But what could these numbers mean for the broader market outlook? Uncover the pivotal trend that may set the tone for Bitcoin's future.
Bitcoin futures volume surges 157% as BTC crosses $37k Bitcoin futures volume surges 157% as BTC crosses $37k
The total volume of Bitcoin futures traded jumped from $27.69 billion to $71.29 billion, showing an increase in speculative activity.
2 min read
Updated: Nov. 12, 2023 at 1:13 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.