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Bitcoin short liquidations spiked over $24 million in the past 24 hours as the price held above the $59,000 mark.Technical and fundamental bitcoin chart indicators show optimistic signs for the crypto market moving into the month of May, an analyst said.
After hitting a low under $57,000 earlier this week, BitMEX co-founder Arthur Hayes expects bitcoin to rally back to the $60,000 to $70,000 range.Hayes argues that recent policy announcements from the U.S. Federal Reserve and Treasury Department amount to “stealth forms of money printing” that will begin a slow grind higher for the crypto market.
Hong Kong’s three spot bitcoin ETFs have seen a decline in daily BTC inflows.Inflows reduced to 174.73 bitcoin on the second day from 3,910 bitcoin on the opening day.Total trading volume maintained at over $9.7 million on both days.
TON is among the most notable gainers in the past 24 hours.
Check out the latest development on the Ripple v SEC lawsuit.