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Bitcoin Explodes Over $26K, Liquidating More Than $120 Million in an Hour.

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The price of bitcoin recently reached $26,400, reaching its peak in nine months.

This is a result of a largely good CPI print and expectations that interest rate rises will slow down.
The cryptocurrency market received a positive message from this, and as a result, Bitcoin rose past $25K once the news broke.
But, it didn’t take long for the price to have another impetuous leg up and hit about $26.4K.
As per Coinglass data, the move led to an enormous $120 million being liquidated in the previous hour alone.
Short holdings accounted for the majority of the liquidations.

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