Bitcoin Price Rebound Smashes $100 Million in Crypto Shorts. Bitcoin is back up again—and as a result, traders betting on a dip in the asset’s price have had their positions liquidated.
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Bitcoin is back up again—and those betting on the price of the asset going down are hurting.
In the past 24 hours, nearly $100 million in short positions for all cryptocurrencies have been liquidated, CoinGlass data shows, with the current tally sitting just over $99 million.
Most of that figure was betting on the biggest cryptocurrency by market cap, with liquidations of short BTC positions now at nearly $36 million in 24 hours. In the past four hours alone, nearly $22 million in BTC shorts have evaporated.
Long positions have also seen losses over the past day, though traders behind shorts are feeling more pain. According to CoinGlass data, about $44 million worth of long positions have been liquidated across all cryptocurrencies in the past 24 hours.
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