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Bitcoin Liquidated $75 Million, Suddenly Spiking To $10,200

Bitcoin Liquidated $75 million worth of short contracts and the price instantly surged to $10,200 which got many analysts wondering, what exactly happened here? Well in today’s BTC news we can see that the price increased to a high of $10,272 in an unexpected weekend rally and Bitcoin liquidated $75 million worth of long contracts on BitMEX only. This could be the main reason behind the sudden surge over $10,000 but the liquidation of over-leveraged shorts and taking profits from the users could also be considered as a second reason. When the price started surging, major altcoins as DeFi tokens…

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