Bitcoin Fends Off Macro Risks, Maintains Price Near $79,000
Bitcoin's price has stabilized near $79,624 after a slight pullback from its recent high. Despite rising macroeconomic risks and increasing inflation concerns, the cryptocurrency remains resilient, trading up 1.56% over the past 24 hours.
Roughly $246 million in crypto positions were liquidated during this period, with longs taking a bigger hit, according to Research Analyst Riya Sehgal at Delta Exchange.
Bitcoin's volatility has climbed to around 40.2%, indicating that traders are pricing in higher near-term volatility, said Sehgal.
The global crypto market capitalization increased by 1.51% to $2.71 trillion, according to CoinMarketCap, while the crypto fear and greed index dropped to 69, indicating a greedy market sentiment, as reported by CoinDCX Research Team.