Bitcoin Soars Beyond $41,000 Amid Surge in Short Liquidations

By: Eva Baxter

The cryptocurrency market witnessed a significant boost as Bitcoin surged past the $41,000 mark. This new high is reported to be bolstered by the liquidation of around $166 million worth of short positions. The sharp price increase comes in the wake of renewed optimism surrounding the potential approval of a spot Bitcoin ETF. Furthermore, the overall market capitalization has risen 3% in the past 24 hours, reaching a level not seen since April 2022.