he Cryptocurrency market is currently on a bullish run, as some of the digital assets with large market capitalization are now reaching new price levels after a bearish market.
The price of Solana and Ethereum has been bullish for the past days, as Bitcoin market price again shows significant improvement.
Bitcoin, Solana, and Ethereum Market Report
There has been a significant gain for Bitcoin following a price Jump from $63,973 to over $66,500 in a period of two days (18th-20th July 2024), after gaining about %4.4 increase according to data from TradingView.
In the list of top 10 cryptocurrencies with large market capitalization, Solana recorded the most gain in just 7 days, with around 25% increase which has resulted in the digital asset breaking out of its “PENNANT” pattern and currently currently trading at $170 as of the time of this writing.
On the other hand, Ethereum, is trading around $3,500 following a 1.6% gain in the last 24 hrs while some other altcoins (DOGE 4.5%, Cardano 3% and BNB 4.9%) are also maintaining a positive chart.
Massive Liquidation for Short Position
The recent surge in the price of Bitcoin has seen over $6 million liquidated for short position in Bitcoin trading, compared to $79,700 for those who traded long at around 14:24 ET on Friday 19th, July.
Coinglass reports that over $30 million have been liquidated on shorts, have exceeded a margin of $5.3 million recorded in long positions that were liquidated during the same time frame.
