‘Bears in disbelief’ — $1B in crypto shorts wiped out as Bitcoin pumps
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Approximately 232,149 traders have been liquidated over the past 24 hours as the crypto market rallied to new highs.
Bitcoin short-sellers were pummeled on Thursday as the cryptocurrency surged to new all-time highs, resulting in more than $1 billion in short positions liquidated in 24 hours.
CoinGlass data shows that $1.01 billion in crypto short positions were liquidated, impacting 232,149 traders.
This included approximately $570 million in Bitcoin (BTC) shorts and $206.93 million in Ether (ETH) shorts.
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