Short sellers quickly lost close to $3 billion U.S. on their bearish bets as the price of Bitcoin (CRYPTO: $BTC) jumped above $70,000 U.S. late on Aug. 19.
Market data shows that traders and investors who were short Bitcoin lost $2.70 billion U.S. in the past 24 hours as the price of BTC got as high as $72,000 U.S.
Total liquidations due to the sharp rise in Bitcoin's price impacted 172,108 professional traders, according to data from CoinGlass. It's the biggest loss on Bitcoin short bets since 2021.
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Market data shows that traders and investors who were short Bitcoin lost $2.70 billion U.S. in the past 24 hours as the price of BTC got as high as $72,000 U.S.
Total liquidations due to the sharp rise in Bitcoin's price impacted 172,108 professional traders, according to data from CoinGlass. It's the biggest loss on Bitcoin short bets since 2021.
More From Cryptoprowl:
MEXC July TradFi Trading Shifts Toward AI Storage as SNDK Futures Volume Surges More Than 15x Times
#Bitcoin #Crypto #market
7 days ago
