Bitcoin bulls have returned and pushed the price to the $29K level, bringing positivity to the entire market. However, this surge has also caused turmoil due to liquidated leveraged positions. Data from Coinglass shows that around $100 million worth of leveraged positions were liquidated in the past 24 hours, with short positions accounting for 82% of this. This occurred as the BTC price surged towards $29K, followed by most of the market.
- The majority of the liquidations involved BTC positions ($41M), followed by ETH ($21.5M).