Bearish Bets on Tokens Lose $600M After Trump’s Announcement
- Bearish bets on major tokens lost nearly $600 million.
- Cardano’s ADA surged 60%, XRP and Solana’s SOL rose 25% each, and Bitcoin (BTC) increased by 9%.
- Bitcoin-tracked futures saw over $344 million in losses, followed by $170 million in ETH-tracked futures liquidations.
- Futures for ADA, XRP, and SOL registered over $70 million in liquidations each.
- Open interest for XRP, ADA, and SOL increased by up to 40% as traders anticipated continued volatility.
Following President Trump’s announcement of a U.S. strategic reserve for several tokens, bearish bets lost nearly $600 million. This led to significant price increases across major tokens like Cardano’s ADA and Bitcoin.
Source (2.6)https://www.coindesk.com/markets/2025/03/03/bitcoin-rally-to-usd93k-sees-bears-lose-usd550m-in-big-sunday-liquidations?rand=52298
