- Bitcoin has reclaimed its price level of over $23,500 after plunging in response to the SEC’s enforcement action against Kraken.
- The event has triggered $120 million in liquidations within the past 24 hours.
- Ether also soared on the day, rising from $1,550 at midnight to $1,633 at writing time.
Overview
This article discusses how Bitcoin reclaimed its price level of over $23,500 after plunging in response to the Securities and Exchange Commission (SEC)’s enforcement action against Kraken. The event has triggered $120 million in liquidations within the past 24 hours and Ether also soared on the day, rising from $1,550 at midnight to $1,633 at writing time.
Price Reclaim
Bitcoin began the day trading for roughly $22,000 but began to climb at 11:38 US and eventually reaching a high of $23,348 by 19:30. It trades for $23,809 at writing time. The cryptocurrency had lost support due to regulatory crackdown against an industry giant last week.
Liquidations
Coinglass shows that approximately $68 million in liquidations have occurred in the past 4 hours after the pump – most of which occurred on Bitcoin and Ether trades. Over 28,000 traders were recorded getting liquidated within the past 24 hours with a single trade for BTC/USD on Bybit accounting for a liquidation worth 2.54 million dollars.