On Monday, July 26, bitcoin (EXANTE: Bitcoin) experiences a sharp rise in price. As of press time, the largest cryptocurrency by market capitalization is up by 11.17% and is trading at the $38,596.93 mark, according to EXANTE.
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Chart of the USD/BTC trading pair from EXANTE
Ether (ETH), for its part, is up by 8.05% at $2,354.27, while binance coin (BNB) gains 5.80% and is now trading at the $320.63 mark.
FxPro's team of analysts says the main reason behind the pump is a massive short squeeze with the liquidation of short positions for almost $900 million.
"In fact, it is worthwhile to be cautious with the current surge in growth, as we remember that trading volumes are historically low enough that huge capital is not required to manipulate the market," the analysts cautioned.
Earlier, iHodl reported that Amazon is seeking a digital currency and blockchain product lead with at least 10+ years of experience in product or program management. According to the job posting, the successful candidate will become part of the Amazon Payments Acceptance & Experience team, focused on developing digital currency and blockchain strategy and product roadmap.
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