"It goes up fast and it goes down fast, where is the price of BTC actually going?
After hovering at the same level for a long time, yesterday on April 27 the entire cryptocurrency market saw a price increase as the sentiment turned positive again.
The price of cryptocurrency king Bitcoin (BTC) managed to jump more than 10% to reach the important level of $30,000, where its trading volume also increased by 58% to $24.7 billion in the last 24 hours.
However, on the same day, the digital asset slipped back to $27,280 which was followed by the second largest crypto Ethereum (ETH) by dropping to $1,785 shortly after climbing high to reach $1,960.
This is because more than 39,000 traders in total acted to liquidate funds worth $145 million in the last 24 hours while the largest liquidity for BTC which is $2.20 million was from the crypto exchange ByBit.
Through observation, BTC Shorts that have been liquidated around $60 million while BTC Longs are $8.39 million means that traders still expect the price of the digital asset to drop further.
Despite this, the price of BTC is now back up by 2.68% at $29,111 in the last hour with a market cap of $563 billion and is up almost 0.80% in the last seven days.
Additionally, ETH also surged by 2.75% at $1,916 but is still down 1.52% over the past week and Ripple (XRP) unfortunately remains down 0.14% at $0.46 in the last 24 hours.
