Bitcoin holds just below $80,000 amid $246 million liquidations
Business
Bitcoin is hanging out just below $80,000 this Wednesday, staying steady even as the crypto market saw about $246 million in positions wiped out, mostly from traders betting prices would keep rising.
Despite the turbulence, Bitcoin edged up 1.56% and Ethereum climbed 1.66% to reach $2,517.
Crypto market cap hits $2.71 trillion
Big names like BNB, XRP, Solana, and Dogecoin also posted gains of up to 3.37%, pushing the overall crypto market cap to $2.71 trillion.
Volatility for Bitcoin jumped over 7%, with traders bracing for more ups and downs as everyone waits on US inflation data and Federal Reserve moves.
Even with all this uncertainty, investor interest stays strong, spot trading volumes are holding steady, and demand for Bitcoin ETFs remains solid.