Bitcoin Breaks $59,800 Barrier with $212M in Liquidations Impacting Traders

The crypto economy surged by 5.6% in the past 24 hours, reaching $2.07 trillion. Bitcoin jumped to $59,848, and Ethereum rose to $2,525. 

This spike led to $212.59 million in liquidations, with Bitcoin shorts and Ethereum longs experiencing the most significant losses. SOL and XRP also saw notable liquidations. Trading volume increased slightly to $94.99 billion, with Bitcoin holding a 56.5% market cap share and Ethereum 14.5%. The day’s activity resulted in 59,781 traders being liquidated.

Clever Robot News Desk 11^st August 2024