Bitcoin (BTC) surged 5% on April 4, briefly topping $69,400, despite a wider market rout in US equities, showcasing its growing status as a safe haven asset.
As of press time, the flagship crypto was trading between $67,500 — giving up more than half its gains after the dollar index recovered from its decline earlier in the day.
Total liquidations stood at $199.2 million over the past 24 hours, with longs accounting for more than half at $109.4 million. Meanwhile, Bitcoin-related liquidations amounted to $67.3 million, with shorts making up $41.8 million.
Most altcoins failed to mirror Bitcoin’s recovery, with Ethereum (ETH) down roughly 1% on the day at $3,283, while Solana was down 2% and trading at $181.7 as of press time.
BNB showed relative strength and was trading at $587, up 5% over the past 24 hours.
Safe haven?
The decline in stock indices, with the S&P 500 and Nasdaq each retreating by nearly 1% from their session highs, was notably influenced by Minneapolis Federal R
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