{"id":270,"date":"2022-03-01T09:29:40","date_gmt":"2022-03-01T09:29:40","guid":{"rendered":"https:\/\/solanacrypto.news\/2022\/03\/01\/300m-in-crypto-liquidations-accompanies-bitcoins-surge-to-44k\/"},"modified":"2022-03-01T09:29:40","modified_gmt":"2022-03-01T09:29:40","slug":"300m-in-crypto-liquidations-accompanies-bitcoins-surge-to-44k","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2022\/03\/01\/300m-in-crypto-liquidations-accompanies-bitcoins-surge-to-44k\/","title":{"rendered":"$300M in crypto liquidations accompanies Bitcoin’s surge to $44K"},"content":{"rendered":"
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Bitcoin (BTC) hit $44,000 overnight on Mar. 1 as a rally that began Monday sparked unexpected results.\u00a0<\/p>\n

\"Chart\"<\/a><\/p>\n

BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/small><\/p>\n

Traders warns of “massive variables” for BTC price<\/h2>\n

Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD reaching $44,250 on Bitstamp before consolidating, still above $43,000 at the time of writing.<\/p>\n

The move had come in two main bursts, beginning just prior to the Wall Street open.<\/p>\n

Against a highly uncertain macro backdrop, analysts had been hard-pressed to forecast<\/a> what Bitcoin price<\/a> action would do next, a mood that continued as local highs appeared.<\/p>\n

Looking ahead to the month of March, popular trader and analyst Pentoshi noted that even more triggers were about to be added to the macro mix.<\/p>\n

“Want to state, March is a month of massive variables,” he told Twitter followers on the day.<\/p>\n

\n

“So I think day to day approach is best. There is a lot going on in the world right now. It’s anyones guess. I’m leaning towards yearly open still, but after that it’s wait and see.”<\/p>\n<\/blockquote>\n

He nonetheless admitted that he “did not see coming” the extent of Bitcoin’s rapid gains, despite adopting a more bullish posture in February.<\/p>\n

Aside from the ongoing Russia-Ukraine war, the U.S. Federal Reserve is due to make a decision on key interest rate hikes this month. U.S. consumer price index (CPI) data is due March 10.<\/p>\n

Bears meanwhile took a hit from the latest events, with cross-crypto liquidations totalling $305 million in 24 hours, data from monitoring resource Coinglass showed.<\/p>\n

\"Coin\"<\/a><\/p>\n

Crypto liquidations chart. Source: Coinglass<\/small><\/p>\n

LUNA shines as altcoins rebound<\/h3>\n

Bitcoin thus outperformed most of the top ten cryptocurrencies by market cap, with 24-hour returns hitting 15%.<\/p>\n

Ether (ETH) managed to add around $370 to reach local highs of $2,970, still unable to crack major resistance higher up.<\/p>\n

The crown was once again taken by Terra (LUNA), however, which added over 20% to nearly double in just seven days.<\/p>\n

\"LUNA\"<\/a><\/p>\n

LUNA\/USD 1-day candle chart (Binance). Source: TradingView<\/small><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) hit $44,000 overnight on Mar. 1 as a rally that began Monday sparked unexpected results.\u00a0 BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Traders warns of “massive variables” for BTC price Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD reaching $44,250 on Bitstamp before consolidating, still above $43,000 at the time of writing. The […]<\/p>\n","protected":false},"author":1,"featured_media":271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/comments?post=270"}],"version-history":[{"count":0,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media\/271"}],"wp:attachment":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media?parent=270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/categories?post=270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/tags?post=270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}