Bitcoin Sees Sudden 8% Rise, Breaches $41K — Ethereum, Dogecoin Follow Course

Bitcoin BTC/USD surged by 7.8% during Asian hours on Wednesday to $41,632.

What Happened: The market-leading cryptocurrency added nearly $3,000 to its price as it surged above the $41,000 mark. The coin saw a 10% increase in trading volume which exceeded $31.6 billion at press time.

The sudden spike in the digital asset’s price caused over $32 million worth of liquidations in one hour alone. Of these liquidations, $22 million were Bitcoin liquidations alone.

Trade Bitcoin, Ethereum, and More Instantly — No Wallets, No Hassle

Speculate on price movements, claim up to $200 in bonuses, and start with risk-free paper trading with crypto futures on Plus500.

Disclosure: 82% of retail CFD accounts lose money

According to data from CoinGlass, more than 94% of liquidations across all major crypto exchanges occurred for traders in short positions.

Ethereum ETH/USD, followed Bitcoin’s momentum, gaining 6.5% and trading above $2,700. Dogecoin DOGE/USD traded 2.4% higher at $0.1217. Among other major coins, Solana (SOL), Avalanche (AVAX), and Terra (LUNA) gained 5%, 8%, and 16%, respectively.

The biggest rallies were observed in privacy coins like Monero (XMR) and Zcash (ZEC) which surged by 26% and 19% on Wednesday.

$BTCBitcoin

$104605.15-1.75%