Briefly

• the price of cryptocurrencies rises by $65 billion while bears face liquidations totaling $155 million.
• With a 6.6% increase, Bitcoin is leading the charge and getting close to $29,000.
• As the token rises 13%, traders in Aragon (ANT) face the most liquidations.

Today, as markets have risen, short sellers of Bitcoin and other cryptocurrencies are suffering. As a result, short positions have been heavily liquidated as BTC and its peers recover from weeks of stagnation.

Over the past 12 hours, crypto markets have increased by more than 5% as $65 billion has returned to the market. As a direct consequence of this, the bears have been sold for approximately $155 million.

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Crypto Liquidations Pile on as Markets Bounce Back

Cryptocurrency markets are up 5.2% in the last 24 hours, making it one of the biggest daily moves in recent months.

After falling to $1.10 trillion just 12 hours ago, total capitalization has risen to $1.17 trillion once more.

The SEC-induced dump on June 14 has now resulted in the recovery of all losses. However, the longer-term perspective still depicts consolidation and market swings.

Over the course of the past 24 hours, Coinglass claims that there have been a total of $155 million in liquidations. Also, by far most of them, or around 80%, have been short positions.

Following a number of applications for Bitcoin spot ETFs from major financial institutions like BlackRock and WisdomTree, the market moved.

Additionally, Citadel, Fidelity, and Schwab are launching cryptocurrency exchanges. As the SEC fights against Coinbase and Binance, this raises suspicions of a coordinated effort.

According to CryptoQuant CEO Ki Young Ju, “This is not a short squeeze, but someone(s) is just buying BTC a lot.”

Following a number of applications for Bitcoin spot ETFs from major financial institutions like BlackRock and WisdomTree, the market moved.

Additionally, Citadel, Fidelity, and Schwab are launching cryptocurrency exchanges. As the SEC fights against Coinbase and Binance, this raises suspicions of a coordinated effort.

According to CryptoQuant CEO Ki Young Ju, “This is not a short squeeze, but someone(s) is just buying BTC a lot.”