Home / MARKETS / Bitcoin Explodes to $26,000, Crypto Market Surge Triggers $320,000,000 in Liquidations

Bitcoin Explodes to $26,000, Crypto Market Surge Triggers $320,000,000 in Liquidations

In the context of the collapse of Bank of America, the apparent growth of Bitcoin continues, and the largest digital currency now stands at $26000.

The rapid rise of BTC has led to a settlement of $320 million in the past 24 hours, betting that landing in the password market will abandon traders scrambling to fill gap trading positions.


Just five days ago, Bitcoin fell to the bottom of $19662 because of the bankruptcy of Silvergate Bank. Yinmen Bank, a bank that is friendly to login passwords, said work pressure from regulators was an important reason for bankruptcy.

Flashback to today-it is now clear that there are inherent problems in the regional banking management system in the United States, and the sudden closure of Silicon Valley banks in the United States has had a reaction around the world.

SVB did not succeed after it announced a $1.8 billion loss on its core sale of US debt, which shrank in value as a result of rising interest rates at the Fed meeting.

The news caused crowding out of the bank and then drew attention to the root cause of Bitcoin-giving people around the world an alternative to the bank management system.

Bitcoin is an open Internet where anyone can add and authenticate buying and selling. It provides a way for people to send their assets to anywhere in the world in a direct and timely manner in the form of digital currency BTC, without the need for banks or retailers.

Bitcoin is available to customers who insist on using the Internet with exponential data, and at a time when most government departments seem to be printing money and an endless cycle of inflation, the main supply of Bitcoin is 21 million.

At the time of posting, bitcoin was worth $25925, up 6.6 per cent in the past 24 hours.


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