Crypto market liquidations hit $820M as Bitcoin price taps $78K

Nearly a billion dollars in leveraged crypto positions were liquidated in the past 24 hours as the Bitcoin price rallied above $78,000.

Bitcoin (BTC) rallied above $78,000 to hit another 10-week high on Friday as crypto and equity markets reacted to cooling tensions in the US and Israel war in Iran. The rally above range highs also resulted in a large liquidation of leveraged Bitcoin positions.

More than $660 million in short positions were liquidated, with Bitcoin accounting for $353 million of that total. Ether (ETH) followed with $160 million in short liquidations.

Related: Three things Bitcoin must do to hold highs above $76K: Analysts

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