Daily liquidations near $500 million as El Salvador confirms the purchase of at least 400 BTC.
Bitcoin (BTC) targeted $53,000 on Sep. 7 as fears of a fresh BTC price dip faded above crucial resistance.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView”No going back” after El Salvador Bitcoin adoptionData from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting new highs of $52,960 on Bitstamp overnight.After a swift retest of the $51,000 level — the lower boundary of what was previously a large wall of selling pressure — Bitcoin bounced back with a vengeance, eclipsing bears and hitting its highest in almost four months.Short sellers lost out big, with 24-hour liquidations nearing $500 million at the time of writing.Among analysts, however, talk was all about El Salvador, Tuesday marking its transition to a partial Bitcoin standard in an historic world first.“El Salvador just bought 200 new coins.
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