Bitcoin Soars Above $61K Causing Over $100 Million in Liquidations

The Bitcoin price has recovered above the pivotal $60K mark, causing many to believe that the bulls are back and a larger rally is in play.

At the time of this writing, BTC trades at above $61K, charting an increase of more than 4% in the past 24 hours alone.Source: TradingView

 

As seen in the chart, the price exploded during the last hour as the volatility was significantly less before that.This move has resulted in over $100 million in liquidations in the derivatives market over the past day.Source: Coinglass

 

As CryptoPotato reported earlier, the increased volatility throughout the day comes after an assassination attempt on the Republican presidential candidate in the US – Donald Trump.Trump confirmed, in an official statement, that he was shot in the upper part of his ear following the shootout during his latest rally in Pennsylvania.He was seen being escorted by agents of the US Secret Service, and in many of the pictures, there’s blood on his face.Many meme coins associated with Donald Trump have seen massive spikes in the past 24 hours.