$815 Million in Crypto Liquidated as BTC Surges Above $78,000
- $815.42 million in leveraged crypto bets were liquidated in the last 24 hours.
- Short positions accounted for $661.93 million of the total liquidations.
- Bitcoin (BTC) rose from a low of $74,695 to a high of $78,232.
- BTC was priced at $77,537 at the time of reporting.
The surge in Bitcoin’s price follows Iran’s announcement that the Strait of Hormuz is fully open to commercial shipping, easing energy supply concerns. This news coincided with President Trump’s indication of progress towards a deal with Iran, boosting market sentiment and encouraging risk-taking among traders.
The significant liquidation figures highlight the volatility in the cryptocurrency market as traders react to geopolitical developments. With over $661 million lost by short sellers, this event underscores the risks involved in trading Bitcoin and other cryptocurrencies. (Source)
