Bitcoin returns to $57,000, market value exceeds Tencent: more than 100,000 people liquidated, 5 billion buried

Amid the fluctuations, Bitcoin has returned to a high level. In the 24 hours before the deadline, the highest price of Bitcoin once returned to $57,200.

Currently, the total market value of Bitcoin exceeds US$11,000, which is higher than the total market value of Tencent (HK$64,400) during the same period, and is close to entering the global top 5.

However, some are happy while others are sad.

According to statistics from Bitcoin Home, more than 105,123 people’s positions were liquidated in the past 24 hours, and 4.991 billion yuan of funds were wiped out.

As for the reason for Bitcoin's rebound this time, it is said to be related to the entry of institutional investors and Wall Street billionaires, who see Bitcoin as a potential tool to hedge against inflation.

It is worth mentioning that this week, Meitu announced on the Hong Kong Stock Exchange that it had purchased 15,000 units of Ethereum and 379.1214267 units of Bitcoin in open market transactions on March 5 as one of its asset allocation strategies, with a total price of approximately US$40 million, or approximately RMB 260 million.

Popular Science:

The so-called margin call means that due to the rapid changes in the market, the investor has no time to add margin and the margin in the account is no longer enough to maintain the original contract. This kind of forced liquidation due to insufficient margin causes the margin to "return to zero", commonly known as "margin call".