Bitcoin Prices Start To Rise, Traders Get Ready For Cuan

Bitcoin prices are starting to rise, traders are getting ready for money (Photo; Doc. Sozcu)

JAKARTA - Bitcoin (BTC), again stole the show with a significant price spike. In the last 24 hours, BTC hit an intraday peak at 63,794 US Dollars (around Rp1.04 Billion), marking a 2% increase against the US dollar. Currently, BTC is trading in the range of 63,070 US Dollars (around Rp1.02 billion) per unit.

This soaring price not only affects traders, but also causes liquidation of 124.64 million US Dollars (around Rp. 2 trillion) in a long and short position on the crypto market. Bitcoin's own short position liquidation reached 49.85 million US Dollars (around Rp. 813 billion).

Trading volume across the crypto market reached 72.56 billion US Dollars (approximately IDR 1.18 quadrillion), a sharp increase of 54.07% in the last 24 hours. Of this amount, about 38.21% or 27.73 billion US Dollars (approximately IDR 452 trillion) came from BTC trading.

Interestingly, according to information from Bitcoin.com News, data from cryptoquant.com reveals that there is a premium price of 1.8% to 1.5% for BTC in South Korea since June 28.

On the Upbit platform, Bitcoin is trading at a price of 64,174 US Dollars (around Rp1.04 billion), while the global average is at 63,070 US Dollars (around Rp1.02 billion). On July 1, premiums in Upbit and Bithumb even reached 1.75%. Daily movement and moving average indicators show bullish trends that attract investors' attention.

Data from the derivative market through coalinglass.com also highlights a massive liquidation of 124.64 million US Dollars (approximately IDR 2.03 trillion) across the crypto market. About 49.85 million US Dollars (approximately IDR 816 billion) came from BTC short positions, while 27.17 million US Dollars (approximately IDR 44 billion) from Ethereum (ETH), and 6.75 million US Dollars (approximately IDR 110 billion) from Solana (SOL).

The largest liquidation order occurred in Binance, with BTC/USD liquidation orders worth 4.39 million US Dollars (approximately IDR 71 billion). In the last 24 hours, more than 37,533 traders across the crypto market have been liquidated. After dropping to the lowest level at 63,070 US Dollars (approximately IDR 1.03 billion) per BTC, this crypto asset managed to bounce back to 63,265 US Dollars (approximately IDR 1,036 billion) at 16.00 EDT, indicating that the level of support at 63K US Dollars began to form.