- On February 28, bitcoin marked a significant increase.
- At the moment, the price of the asset reached $59,420.
- The volume of liquidations continues to grow.
On February 28, 2024, the bitcoin rate broke the mark first at $58,000 and then at $59,000. The asset is trying to consolidate above this level.
At one point, the coin’s exchange rate reached $59,420, but then rolled back, according to TradingView. At the time of writing, the first cryptocurrency is trading at $59,333:
Note that in a day, the first cryptocurrency increased in value by more than 5%, in a week – by more than 15%.
The volume of liquidations on futures contracts in the cryptoasset market has grown to $243 million, with short positions prevailing:
Recall, earlier we have previously analyzed in detail the possible reasons for such a sharp rise in the price of bitcoin. Experts believe that the main driver in this case is the high demand for spot ETFs based on the asset:
Earlier, we reported that the trading volume of spot bitcoin ETFs kept above the $2 billion level for the second day in a row. It was against this backdrop that the asset posted a significant gain.
