Bitcoin climbed to a high of $72,650 for the first time in four weeks. BTC price rally liquidated over $55.72 million in the past 24 hours. Meme coins rally alongside Bitcoin, with Dogecoin, Shiba Inu, Dogwifhat, PEPE and Flok among the top gainers. Bitcoin hit $72,650 on Monday, the highest level in almost four weeks and liquidating $55.72 million in short positions, according to Coinglass data.
Traders betting against Bitcoin gains lost nearly $55 million in the past 24 hours. On the contrary, long position holders have gained nearly $11 million, according to Coinglass data. Bitcoin derivatives data The Bitcoin halving, scheduled to occur in around ten days, on April 18, is likely the catalyst driving gains in BTC. Typically, Bitcoin price rises in the days leading up to the block reward halving and sees a correction within 90 days after the event.
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