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.

“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.

“Also suspect buyers in the $ 30K area bought to sell here. Similar in many ways to the $ 6K level in 2019.”

BTC / USD reached $ 40,450 on Bitstamp before the merger phase began, with volatility still high in evidence.

Ethereum up nearly 30% from January lows

Altcoins followed by Ether (ETH) rose more than 10% during the day to circle $ 3,000.

Related: Bitcoin jumps after Amazon’s 15% rebound in US tech return

ETH / USD last traded at its key psychological level on January 21 along with Bitcoin and just over ten days ago it was close to $ 2,000.

ETH / USD 1 Day Candlestick Chart (Bitstamp). Source: TradingView

The other in the top ten cryptocurrencies on the market is green, with best performer Solana (SOL) reaching a daily gain of 13%.