The Skew analytics company has shared some bullish news for BTC investors.
It says that on June 1, on the BitMEX exchange a massive amount of buy liquidations worth more than $100 mln took place.
$100 mln + of short XBT positions reversed
Skew has reported that after Bitcoin managed to get above the $10,000 level on June 1, a gargantuan amount of short positions was reversed on Bitmex, worth over $100 mln in total.
In 2017 BTC took 17 days to surge from $10K to $20K
Top analyst and the creator of the stock-to-flow analysis, Plan B, has reminded the community that back in glorious 2017, the BTC price went to $16,600 from $10,000 in merely a week and from $10,000 to the ATH of $20,000 in a little more than two weeks.
Replying to a comment from VanEck’s Gabor Gurbacs, who said that due to a bigger number of BTC holders any rally now could be more meaningful, he stated that a run-up to a new ATH may happen quickly enough.
The analyst added that the community must not be afraid of 5-digit BTC price moves in the future.
Jason Williams, a co-founder of Morgan Creek Digital, has posted a similar tweet about BTC taking just seventeen days to jump from $10,000 to $20,000 back in 2017.
The community seems bullish as more people are also tweeting that BTC may advance well beyond $10,000 soon.