---
title: "Over $100M in Liquidations as Bitcoin (BTC) Price Soars to $40K"
url: https://diffcoin.com/over-100m-in-liquidations-as-bitcoin-btc-price-soars-to-40k/
description: "Chainlink also continues its run by jumping above $16."
published: 2023-12-02
updated: 2023-12-02
author: "Mila"
site: "Diffcoin"
---

# Over $100M in Liquidations as Bitcoin (BTC) Price Soars to $40K

Although most weekends tend to go relatively quiet for the volatile cryptocurrency industry, this one saw a more impressive price surge for BTC and several assets.

This resulted in tapping a new 19-month peak for the primary digital asset and millions of dollars liquidated, mostly for short positions.

- As *CryptoPotato* reported earlier today, BTC had soared to a multi-month peak at $39,000 on Friday evening for the first time in over a year and a half.
- The asset failed to continue its momentum and retraced by several hundred dollars. However, there was a looming feeling among the community that another leg up was in the making.
- This price pump indeed transpired on Saturday evening when bitcoin soared by over a grand in minutes and thus came just inches away from tapping $40,000 for the first time since May 2022.
- So far, though, the asset has been unable to breach that level and has dumped by around $700.

![BTCUSD. Source: TradingView](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxNzkzIDc0NyIgd2lkdGg9IjE3OTMiIGhlaWdodD0iNzQ3IiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyMyUyRjEyJTJGQlRDVVNELTIucG5nIiBkYXRhLXc9IjE3OTMiIGRhdGEtaD0iNzQ3IiBkYXRhLWJpcD0iIj48L3N2Zz4=)

BTCUSD. Source: TradingView

- Several altcoins also surged by notable percentages but have retraced just like BTC. Nevertheless, Chainlink is still over 7% up on the day and trades above $16. The other impressive gainers include RUNE (11%) and NEAR (6%).
- The second-largest cryptocurrency – Ethereum (ETH) – has added 3% of value and has jumped well above $2,100.
- This enhanced volatility has harmed over-leveraged traders as the total number of liquidations has soared to more than $100 million on a daily scale.
- Somewhat expectedly, the majority of wrecked traders had shorted the market. The single largest liquidated order was worth $2 million and took place on OKX.

SPECIAL OFFER (Sponsored)  
  **Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month**  (terms).

[Source link](https://cryptopotato.com/over-100m-in-liquidations-as-bitcoin-btc-price-soars-to-40k/)