Bitcoin hits $64,000 before sharply retreating as Coinbase crashes
Bitcoin price crossed the $64,000 mark on Wednesday February 28, to hit its highest level since October 2021. The top cryptocurrency’s value rose more than 12% in the 24 hours to hit highs of $64,100 on Coinbase. However, prices fell sharply to touch lows of $58k as $100 million in BTC liquidations hit the market in one hour. Over the past 24 hours, total liquidations across the crypto market reached over $630 million – with Coinglass data showing short sellers rekt for over $355 million and longs for $280 million. The $6,000 dip happened as users reported problems with their Coinbase accounts – balances showed $0. Coinbase support did acknowledge the problem and BTC price swiftly moved back above $60k. Prices hovered near $61,300 at the time of writing. We are aware that some users may see a zero balance across their Coinbase accounts & may experience errors in buying or selling. Our team is investigating this & will provide an upd...