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Markets This Week: Crypto Prices Skyrocket And Result In Massive Liquidations

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Last Week, Bitcoin was trading at $20,608 on Sunday, and Ethereum was trading at $1,595. Dogecoin soared more than 90% over the past week, leading the rally in crypto prices. 

According to The Block's data dashboard, Short liquidations over the past seven days are close to $2 billion and reached $1.28 billion between Tuesday and Wednesday.

Around 80% of all liquidations were made by Sam Bankman-FTX Fried's as soaring prices caught futures dealers off guard. On Saturday, more short liquidations totaled $447 million, with FTX accounting for nearly $340 million.

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