Bitcoin Price Soars to $37k Before Crashing Back Down in Volatile Trading
- Bitcoin price surged past $36k and $37k, reaching $37,972 due to a short squeeze.
- Over $1.56 million in short positions were liquidated.
- The rally was short-lived as Bitcoin plummeted back to $35,700, liquidating $17 million in long positions.
- Around $1 billion in open interest was eliminated within hours.
- Bitcoin's market cap gained 3.1% and trading volume increased 120% in 24 hours.