Bitcoin returns to $40K, liquidating over $50M of shorts in hours

Bitcoin (BTC) returned to $ 40,000 for the first time in two weeks during the 4th of February as Wall Street volatility proved beneficial for BTC bulls.

*BTC / USD 1 Hour Candle Chart (Bitstamp). Source: TradingView*

Liquidations mount for BTC shorts

Data from Cointelegraph Markets Pro and TradingView showed that BTC / USD jumped above $ 40,000 on Feb. 4, just two hours after opening Wall Street, gaining momentum.

At the time of writing, both of them raised $ 3,000 in two hours, an unexpectedly strong performance that caused the short sellers very much pain.

According to Coinglass Chain Inspection Resources, BTC’s payments have reached $ 50 million in the last four hours, with cryptocurrency crossovers going through $ 100 million.

*BTC Payment Schedule. Source: Coinglass*

Analysts, who have been eyeing the site for $ 39,600 to test and save, are equally unsuccessful.

“Well, I think people are starting to feel FOMO,” said Cointelegraph contributor Michaël van de Poppe.

Wall Street session opens with The recent rise for Amazon is a huge boost, thus helping to boost cryptocurrency aggregation, despite the company’s underlying data contradicting its stock performance.

In the midst of a tumultuous short-term environment, many take the opportunity to recall the goal of a higher value of time.

#BTC Key level
Shakeout under $ 38.5k almost perfect scenario

HTF:
Remember # Mid-term Target ~ $ 48k daily 360MA.

LTF:
After the LTF projection is perfectly completed, the pump separates. Re-demanded the rise of the wedge, which is currently trading at the resistance level. Throwback S / R reverses or breaks next. pic.twitter.com/iqeo6DofUW

– AN₿ESSA (@ Anbessa100) February 4, 2022

“I suspect there is a stock price of $ 40,000. What will be sold is already sold in a two-month downtrend, closed by macro panic,” Light said on Twitter. Continue About the sustainability of movement.