<\/p>\n
Hundreds of millions of dollars worth of liquidations are hitting the crypto markets as Bitcoin (BTC<\/a>) touches the $64,000 level for the first time since late 2021.<\/p>\n New data from market intelligence platform Coinglass reveals<\/a> that during the last 24 hours, traders saw over $638 million worth of liquidations \u2013 the majority of them being short positions.<\/p>\n The flagship digital asset itself saw a staggering $185.62 worth of derivatives contracts evaporate at time of writing while others such as leading smart contract platform Ethereum (ETH<\/a>) and dog-themed meme asset Dogecoin (DOGE<\/a>) saw $77.53 million and $31.62 million, respectively.<\/p>\n Other notable crypto assets that saw significant liquidations during the last day include ETH rival Solana (SOL<\/a>), which saw $10.17 million and memecoin Pepe (PEPE<\/a>), which saw $11.91 million worth of contracts disappear.<\/p>\n According to the data, most of the liquidations happened across four different centralized crypto exchange platforms, including Binance, OKX, Huobi, and Bybit.<\/p>\n In a new thread, Hunter Horsely, the CEO of Bitwise Invest, tells<\/a> his 31,300 followers on the social media platform X that, amid its rally, BTC looks primed to chip away at gold\u2019s total addressable market (TAM), which is the maximum possible revenue that can come from a financial product.<\/p>\n \u201cBitcoin is going to eat into gold\u2019s TAM faster than people expect. $250k Bitcoin could happen much sooner than most who\u2019ve followed the space for years would imagine. <\/em><\/p>\n Why? For 15 years, Bitcoin proved its merits but was only accessible to some. Bitcoin ETFs were Bitcoin\u2019s IPO (initial public offering) moment. It\u2019s now available to any investor with the click of a button. <\/em><\/p>\n The market has 10xed.\u201d<\/em><\/p>\n Earlier today, widely followed crypto analyst DonAlt said<\/a> that BTC\u2019s big move marks Bitcoin\u2019s \u201cfinal resistance\u201d before reaching new all-time highs, adding that he\u2019d remain bullish on the crypto king until it suffers a sharp reversal.<\/p>\n Bitcoin is trading for $63,235 at time of writing, an 8.2% gain during the last 24 hours.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Featured Image: Shutterstock\/Sergey Nivens\/Fotomay<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Hundreds of millions of dollars worth of liquidations are hitting the crypto markets as Bitcoin (BTC) touches the $64,000 level for the first time since late 2021. New data from market intelligence platform Coinglass reveals that during the last 24 hours, traders saw over $638 million worth of liquidations \u2013 the majority of them being […]<\/p>\n","protected":false},"author":2,"featured_media":256233,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-256232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/256232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=256232"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/256232\/revisions"}],"predecessor-version":[{"id":256238,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/256232\/revisions\/256238"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/256233"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=256232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=256232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=256232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n<\/p>\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n