Bitcoin Price Blasts Past $56,000, Yielding $157 Million in Liquidated Shorts

After flirting with $55,000 for much of the day, the price of Bitcoin didn’t hesitate to leap comfortably above $56,000 late Monday—$56,700 as of writing—reaching heady altitude despite $157 million in Bitcoin shorts being liquidated over the last 24 hours, according to CoinGlass.

The milestone comes only hours after BTC surged over $53,000, already seeing heights not seen since 2021.

It was October 2021 when crypto watchers were breathless, watching Bitcoin rise above $57,000 as it continued a two-week rally. It hit $69,000 in November of that year.

This is a developing story and will be updated as details emerge.

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Source: https://decrypt.co/219125/bitcoin-price-blasts-past-56000-yielding-157-million-in-liquidated-shorts