Bitcoin

Bitcoin price hits its 13-month high at $ 12,200, settling $ 22 million with short contracts

Bitcoin’s price (BTC) sparked $ 24 million sell-offs on BitMEX alone on Aug. 17, as markets rebounded to $ 12,000 with a new move.

Daily snapshot of the cryptocurrency market, August 17th. Source: Coin360

Daily snapshot of the cryptocurrency market, August 17th. Source: Coin360

The BTC price “Clear False Move” costs Shorter a lot

Bitcoin price hits its 13-month high at $ 12,200, settling $ 22 million with short contracts
Bitcoin price hits its 13-month high at $ 12,200, settling $ 22 million with short contracts

Data from Cointelegraph Markets and Coin360 showed the BTC / USD pair briefly hit $ 12,200 on Monday.

A subsequent correction could wipe out gains and more, ricocheting $ 11,785 to break the $ 12,000 mark again in minutes.

At the time of going to press, Bitcoin was circulating around $ 12,080, a 24-hour gain of 2.5% and the highest price in more than a year.

BTC / USD 24-hour chart. Source: Coin360

24-hour chart of the BTC / USD pair. Source: Coin360

Despite the psychological significance of $ 12,000, there are few They seemed convinced that Monday’s climb was a legitimate turning point.

“Clear wrong steps to raise liquidity,” summarized the analyst from Cointelegraph Markets Michaël van de Poppe.

At BitMEX, the volatility results of the few minutes were evident: Short contracts were traded for $ 22.1 million on Monday, compared to just $ 1.7 million the previous day.

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