Bitcoin and Ethereum shorts liquidated worth $226M in 24 hours
Rising prices triggered significant forced closures as bearish traders struggled to keep pace with renewed momentum.
Key Takeaways
- Approximately $226 million in Bitcoin and Ethereum shorts were liquidated within a 24-hour period due to price surges.
- Ethereum shorts contributed $137.9 million to the total liquidations, occurring as ETH accelerated higher.
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Bitcoin and Ethereum short positions worth around $226 million were liquidated in a 24-hour period today as both cryptocurrencies surged higher.
The liquidations highlight intense volatility in crypto markets as traders betting against price increases faced forced closures of their positions. Bitcoin, the leading cryptocurrency, and Ethereum, the second-largest digital asset, drove the majority of the liquidation activity.
Ethereum shorts alone accounted for $137.9 million in liquidations during the 24-hour period. The forced closures occurred as both cryptocurrencies extended gains, creating additional upward momentum.
Broader market data shows over $330 million in short positions were wiped out across all cryptocurrencies as bearish traders faced margin calls amid the price rally.
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