BitMEX Saw $100 Mln + Buy Liquidations on XBT/USD as BTC Surpassed $10,000: Skew Data

Tue, 06/02/2020 - 14:41
Yuri Molchan
Skew analytics provider shares data showing that on June 1, when the BTC price exceeded $10,000, XBT/USD buy liquidations worth more than $100 mln took place on BitMEX
Cover image via

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.

Image via Twitter, @skewdotcom

Open Interest for Bitcoin Futures on OKEx Exceeds $1 Bln

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.

Image via Twitter, @100trillionUSD

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.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at

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