This unconfirmed rumor that Amazon will commence accepting Bitcoin payments later this year also put Bitcoin on the rise for the sixth trading day in a row, and it’s the first time since June 16 that Bitcoin has crossed the 39,000 mark. Today, Bitcoin soared 15 percent in two hours to $39,800, the highest price since mid-June, according to data from CoinMarketCap. As of the deadline, Bitcoin temporarily reported $37,900, and the rise has slowed.
Short-term rushes also led to a large number of short-term liquidations. In just 10 minutes, over 110 million US dollars worth of short positions were liquidated on the market, based on Glassnode data. More than 100,000 empty orders totaling US$1.012 billion have been sold out in the past 24 hours, according to Bybt data.
Having said that, after weeks of decline, the Bitcoin market reversal is still exciting the market.
Daniel Kim, Head of Capital Markets at Maple Finance, said:
“This price movement is consistent with what we have seen in the past few weeks. U.S. dollar lending rates have risen from lows. … We have also seen a significant increase in institutions’ borrowing demand for USDC. After the news that Amazon is about to participate in the Bitcoin market, market sentiment seems to have turned bullish.”
As the British newspaper “City AM” reported on the 25th, citing sources familiar with the matter, Amazon expects to accept Bitcoin payments before the end of the year, and may issue its own cryptocurrency in 2022. Jeff Bezos personally issues orders.
Even though Amazon has not yet responded to the “Financial City Morning Post” statement, investors still seem to believe that Amazon has hired digital currency and blockchain product leaders.
The continued rise of bitcoin will naturally drive the rise of other cryptocurrencies.
In the past 24 hours, Ether (ETH) rose 10% to US$2,383.79; Binance Coin (BNB) rose more than 7.8% to US$324.7; and Cardano (ADA) rose more than 13.7% to US$1.39.
Over 100 million U.S. dollars short liquidation
However, whether it is rising or falling, every time the market fluctuates sharply, some exchanges seem to have system problems.
Binance, which has been in frequent conditions, had another pinning incident this morning. According to the transaction chart, the price of Binance’s Bitcoin perpetual contract once soared to US$48,000, which was a 20% premium over the spot price, which caused dissatisfaction among many investors.
Well-known show host Waqar Zaka ranted on Twitter:
Wow, Binance, this is the second time you have malfunctioned when I could have closed my transaction.
Twitter KOL @open4profit also stated on Twitter that he lost $5,000 as a result.
Binance, however, has not yet responded. Binance’s CEO Changpeng Zhao simply tweeted a screenshot of Binance’s shot to the top of the Twitter trends list. He seems quite proud of having predicted that Amazon would join the world of Bitcoin.
