Bitcoin (BTC) Hits $30,000 Level; Traders Get Liquidated for Over $207,000,000

Following multiple amazing announcements coming from the big players, the crypto space is looking great these days, with Bitcoin hitting $30k. At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $30,326.

Traders are currently experiencing significant losses as Bitcoin (BTC) surpasses the $30,000 price level. Coinglass, a crypto tracking platform, has reported that over $207 million in positions have been liquidated in the past 24 hours.

Majority of these losses, amounting to $173 million, come from short positions, while long investors have incurred over $34 million in losses.

Binance, the world’s largest crypto exchange, saw the highest amount of liquidations at $41.1 million followed by OKX which saw just over $11 million. Data shows that the single largest liquidation occurred over crypto exchange BitMEX for $9.3 million.

According to Alex Krüger, a well-known economist, BlackRock’s recent attempt to establish a BTC exchange-traded fund (ETF) through the U.S. Securities and Exchange Commission (SEC) is likely to be one of the simplest ways to invest in Bitcoin this year.

Kruger also expressed a strong belief that the ETF will be authorized by the regulatory agency in the coming year, despite previous rejections of similar proposals.

Bitcoin has been all over the news lately, due to the massive rise in price amidst the excitement that we’ve been seeing in the crypto space.

As we revealed the other day, several major financial institutions worldwide have provided financial support to the recently launched digital asset marketplace, EDX Markets (EDX).

A press release has revealed that the company has secured a round of funding from esteemed financial giants such as Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital, and Virtu Financial.

The funding will “support EDX as it continues to develop its trading platform and solidifies its market leadership position.”