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BTCUSD Price Surges by 8.4% to $74,998 Amidst Widespread Short Liquidations

Guavy AI Editorial Team
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The price of BTCUSD rose by 8.4% to $74,998, nearing its True Market Mean. This significant increase led to a substantial amount of short liquidations totaling $789.7M, with total crypto liquidations reaching $1.24B across 141,191 traders.

According to Glassnode, high-conviction buyers have been accumulating Bitcoin since January and now hold the majority of the supply bought during this cycle, mirroring the buying pattern seen in 2022.

Binance News reports that it currently holds 840,447 BTC at an average cost of $75,385. The company paused buys after raising $333.7M and valued its position around $69,803 per BTC for Bitcoin versus the US Dollar, Spot CFD (BTCUSD).

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