Bitcoin’s Surge Triggers Record Short Liquidations
- Short sellers lost $504 million in a single day, marking the highest loss since late April.
- Total liquidations across the cryptocurrency market reached approximately $655 million, affecting over 104,000 traders.
- Bitcoin positions accounted for $315 million of the total liquidations, while ether positions totaled $201 million.
- The largest liquidation was a $12.3 million bitcoin futures position on the OKX exchange.
- Bitcoin’s price rebounded to nearly $63,800 after falling below $60,000 last week due to various market pressures.
The recent volatility in Bitcoin has led to significant losses for short sellers as prices rebounded sharply after a period of decline. This surge comes amid broader market movements and geopolitical tensions affecting global stocks and commodities.
As Bitcoin reached highs of $63,700 before retreating slightly, short sellers faced unprecedented losses totaling $504 million in just one day.(Source)
