Crypto surge clobbers shorts in $873m liquidation frenzy – DL News
- The crypto market added $130 billion to its value in the last day.
- Bitcoin crossed $100,000 for the first time in two months.
- Ethereum soared 20%.
Crypto bears got steamrolled over the last 24 hours with $873 million worth of short positions liquidated.
That’s according to Coinglass, which noted the wipe-out as crypto prices ripped higher. Bitcoin crossed $100,000 on Thursday for the first time since February, while Ethereum leapt 20%.
The surge came after weeks of massive inflows in Bitcoin exchange-traded funds.
“Bitcoin crossing $100,000 signals a full-on narrative reset: that’s because this milestone cements Bitcoin’s role as a macro asset in institutional portfolios,” Mike Cahill, CEO of Douro Labs, a Pyth Network contributor,…
