Breaking Down Bitcoin’s Rollercoaster Ride: From a Brief Rally to $49K to a Sudden Drop to $46K, Resulting in $100M in Liquidations in Just 4 Hours
Bitcoin’s Brief Rally and Subsequent Decline Introduction Bitcoin (BTC) experienced significant volatility following the launch of the first spot BTC exchange-traded funds (ETFs) in the United States. BTC surged above the $49,000 threshold, marking its highest level since December 2021, immediately after these ETFs began trading. However, the cryptocurrency rapidly declined almost 4% within the…