$300M Liquidated As BTC Sees Its Highest Daily Increase Since 2021

$300M Liquidated as BTC sees its highest daily increase since February 2021 and the past 24 hours were volatile after soaring more than $6000 at one point to above $44,000 so let’s read more in today’s latest Bitcoin news.

The enhanced price fluctuations in the market resulted in over $300M liquidated as BTC sees its highest daily increase and BTC increased by 15% which became the largest one in over a year. The special military operation launched by Russia’s President Vladimir Putin, caused huge disruptions in financial markets last week. BTC is being highly volatile and a free-market asset whcih dropped by $5000 in one day to a monthly low of over $34,000. however, the crypto did recover as fast as in one day as no other country wanted to be involved in the war between the two former Soviet states.

This led to a period of consolidation for BTC as the asset remained near $38,000 for a few days but the situation changed. BTC went on a tear from the previously mentioned level and broke above $40,000 and kept increasing to a 12-day high at just over $44,000. by surging by more than 15% in one day and BTC recorded its biggest daily price increase since February 2021 when it increase by 20%. most of the altcoins produced even bigger gains which led to a number of liquidations and accoridng to the data from Coinglass, about 60,000 traders were wracked in the past day and the total liquidations hit $300 million. The single biggest liquidation order happened on Binance and involved THETA which is up by 20% in one day.

As recently reported, Half of Bitcoin’s transactions on gaming platform Steam were reportedly fraudulent before removing BTC as a payment option according to the president of Valve Gabe Newell. He also said that the crypto space is populated with actors which are not people that you want to interact with. Steam introduced BTC as a payment option in 2016 and abandoned the experiment in December 2017 because of crypto’s price volatility and a huge increase in fees to process transactions on the BTC network. Newell told PC Gamer that BTC’s price made it a nightmare to use for transactions because a game could cost $10 one day and $100 the other.