‘Bears in disbelief’ – $1B in crypto shorts wiped as Bitcoin pumps
Bitcoin short-sellers were pummeled on Thursday as the cryptocurrency surged to new all-time highs, resulting in more than $1 billion in short positions liquidated in 24 hours.
CoinGlass data shows that $1.01 billion in crypto short positions were liquidated, impacting 232,149 traders.
This included approximately $570 million in Bitcoin shorts and $206.93 million in Ether shorts.
Bitcoin liquidations totaled $590.04 million over the past 24 hours with only $20.21 million being long positions. Source: CoinGlass
The liquidations came as Bitcoin clocked a new record high for the second day in a row — $112,000 on Wednesday and $116,500 on Thursday, while Ether surged to $2,990 on Thursday.
