Bitcoin’s massive surge upward saw more than $268 million in shorts liquidated throughout the wider crypto market.
Bitcoin short sellers are nursing millions in losses after Bitcoin (BTC) rocketed upwards nearly 11% to briefly notch a new yearly high of $57,000.
According to data from crypto data platform Coinglass, over $161 million in BTC shorts were liquidated in the last 24 hours. Traders looking to gain short exposure to Ether (ETH) didn’t fare much better, with liquidations reaching almost $44 million within the same timeframe.More than $268 million in short positions were liquidated as Bitcoin briefly touched $57,000.
More than $270 million in short positions were liquidated in total as the market spiked upward.
