Bitcoin breaks above $40k, Bitcoin ETF Token raises nearly $2.5m
Bitcoin is at the highest level since April 2022, trading at $41.28K and up 4.71% in 24 hours. Following this upswing, the broader crypto market is up 3.4% on the last day. Bitcoin breaks out above $40k The $40K milestone has long been a critical physiological area of interest for Bitcoin investors, with many worrying that it may prove to be strong resistance. Consequently, many traders had remained partially or wholly sidelined or even been shorting Bitcoin as it approached the $40K mark. You might also like: U.S. Space Force Major advocates for Bitcoin in national defense However, X commentator Mister Crypto noted that this cautiousness, or even bearishness, is good for Bitcoin. In a recent tweet, the analyst pointed out, “over $3,855,000,000 worth of BTC short positions will be liquidated,” should Bitcoin break above $38.6K. Short liquidations represent the closure of a sell position on an asset, essentially equating to increased buying pressure. The ana...