Fast Take
In a wild 24-hour experience, Bitcoin’s worth underwent a rollercoaster of fluctuations, skyrocketing to a peak of $64,000, subsequently plunging to $59,000, earlier than making a restoration to above $60,000.
![BTCUSD Bitstamp: (Source: Trading View)](https://cryptoslate.com/wp-content/uploads/2024/02/btcusd-1.png)
This climb triggered a wave of liquidations, totaling roughly $800 million within the digital asset ecosystem, in keeping with Coinglass. Throughout Bitcoin’s ascent, brief positions have been battered, whereas then lengthy positions received liquidated because of Coinbase’s technical snag.
![Total Liquidations: (Source: Coinglass)](https://cryptoslate.com/wp-content/uploads/2024/02/Liq-4.png)
Based on Coinglass, the $300 million liquidation in Bitcoin, cut up between roughly $200 million shorts and $100 million longs, represents the most important brief liquidation occasion previously three months.
Wanting past the tumultuous 24 hours, Bitcoin continues its upward development, notching a 44% acquire in February alone. If the momentum holds via the final day of the month, Bitcoin will shut with six consecutive months of beneficial properties – a month-to-month efficiency not seen since December 2020, in keeping with Coinglass.
![BTC Monthly Returns: (Source: Coinglass)](https://cryptoslate.com/wp-content/uploads/2024/02/btc-8.png)
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