The volume of liquidations of short positions exceeded $ 500 million against the background of the rise of bitcoin above $ 11,000

The price of bitcoin rose above $ 11,000 tonight. The first cryptocurrency managed to reach these levels for the first time since the beginning of this year.

The local maximum was set at $ 11,400. Growth over the last day was 7%, over the week - 20%, and relative to the March lows of about $ 3,800 - 200%. Bitcoin was last traded at comparable levels in August 2019.

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At the same time, gold continues to renew its historical highs. On Monday, its price rose to $ 1,942. The previous record was set on September 6, 2011 at $ 1,924.

According to the observations of one of the traders, the volume of liquidations of short positions against the background of today's growth in Bitcoin exceeded $ 500 million, of which $ 126 million came from Binance, $ 124 million from BitMEX, $ 102 million from Huobi, $ 95 million from OKEx.

Some altcoins have also shown convincing results. The KAVA token has largely recouped its recent drop, climbing 23%. BAND, LRC, REN and RUNE added 11 to 16 percent.

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The cryptocurrency market capitalization, along with the latest movements, has exceeded $ 320 billion.
Photo: Travis Wolfe
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