Bitcoin surges past $21k as shorts squeezed out, returns to pre-SVB levels

Bitcoin hit a high of $21,500 on March 12, just as futures markets were set to open in a few hours. However, the past 24 hours saw almost $100 million in liquidations occur. Despite this, there has been extensive net shorting of Bitcoin in recent days in the markets. At the same time, accumulation of spot Bitcoin has also been taking place.

These events underscore the volatility and unpredictability of the cryptocurrency market. While Bitcoin’s recent surge in value has caught the attention of investors and traders, it is important to remember that the market can move in both directions rapidly. Those who choose to invest in Bitcoin or other cryptocurrencies should be prepared for the potential risks and rewards that come with this volatile market.

Whether you are a seasoned investor or a newcomer to the world of cryptocurrencies, it is important to stay informed about the latest market trends and developments. Keeping up with news and analysis can help you make informed decisions and navigate this exciting and unpredictable market.