Bitcoin hit a new all-time high for the second time this week and once again experienced a violent sell-off that erased its gains and stirred memories of past volatilities in the crypto space.
Bitcoin broke its previous record early in the US trading hours on March 8, climbing to an all-time high of $70,136 after US jobs data raised expectations of rate cuts in the coming month.
However, the jubilation was short-lived as a wave of sell pressure engulfed the market, driving the price down by more than 3% to a low of $66,500 in less than an hour. The wider crypto market experienced similar volatility.
As of press time, BTC was trading at $67,890, according to CryptoSlate data.
Over the past four hours, the volatility caused $181.5 million in total liquidations, with longs making up more than $100 million. Meanwhile, Bitcoin liquidations during the period stood at $70.57 million, with longs accounting for $40.3 million, according to CoinGlass data.
The wall
This week’s market movements
We współpracy z: https://cryptoslate.com/bitcoin-sees-violent-volatility-after-hitting-new-ath-second-time-in-a-week/
