As Bitcoin’s price continues to shoot upwards, traders betting on the asset to go down are feeling the pain. But so are those betting on the price going up.
The biggest digital asset by market cap was fast closing in on $68,000 per coin earlier Tuesday amid a sudden spike, according to CoinGecko. However, the rise was short-lived, with the gains being completely erased.
Bitcoin is now trading hands for just above $65,200, after hitting a daily high of $67,803 per data from CoinGecko. And on America’s biggest crypto exchange, Coinbase, Bitcoin landed less than $70 away from $68,000 per coin earlier.
Bitcoin’s sudden rise has hurt futures traders who were shorting the coin, or betting on its price to go down. Over the past 24 hours, $130…
Oct 16 2024
