The Long and Short of Bitcoin (BTC) This Week – Investing.com India

SourceInvesting.com
SectorFinancial Markets
CountryMiddle east

Bitcoin entered the weekend on a bullish note, going above $60,150, just shy of reaching its all-time high of about $61,700.But over the weekend, the prices end up going lower to $56,500 as $515 million Bitcoin longs got liquidated on Sunday. Overall, more than $1 billion was liquidated on the day, and the funding rate neutralized with the highest at 0.1219% on Bybit.Now, Bitcoin has started this new week on a red note. As of writing, is trading around $57,500.While April has started at -2.26% performance, the leading cryptocurrency ended the quarter first as the best one in eight years. Historically, April and quarter second both call for good things ahead.“Bitcoin's price has a lot of room to go,” says trader and economist Alex Kruger.Miners are also busy accumulating all the BTC that they have been mining after selling a bunch at the beginning of the year.Becoming Digital Gold Bitcoin has a long way ahead with many more ATHs to...read more...