Other altcoins are also trading positively, with BNB (BNB) up 4.9%, Dogecoin (DOGE) 4.5%, and Cardano (ADA) 3%. The outage that occurred followed a software update by cybersecurity giant CrowdStrike. As the widespread cyber outages brought attention to Bitcoin’s strengths, the market appeared to be poised for a fresh rebound. The space also experienced a significant surge in spot ETF volume.
For example, in the past hour, as of 14:24 ET on Friday, over $6 million in BTC shorts were liquidated – a stark contrast to the $79,700 in long positions. In the broader market, over $30 million in shorts were liquidated in the past four hours, surpassing long liquidations by a significant margin, with only $5.3 million in long positions being affected. These liquidations occurred as the BTC price rose to above $66,800.
