Bitcoin (BTC) Price Surge Wipes Out $100 Million in Crypto Shorts: A Market Rebound

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Bitcoin’s value is on the rise again, causing significant losses for those who bet on a decrease in its price.
In the past 24 hours, nearly $100 million in short positions for all cryptocurrencies have been liquidated, according to CoinGlass data.
The price of Bitcoin has increased by about 5% in the past 24 hours, trading for $61,911.

Bitcoin’s resurgence has led to significant losses for short sellers, with nearly $100 million in short positions liquidated in the past 24 hours. The digital currency’s price has increased by about 5% in the past 24 hours, trading for $61,911.

Bitcoin Short Sellers Face Losses

Bitcoin’s recent rise has caused significant losses for those who bet on a decrease in its price. In the past 24 hours, nearly $100 million in short positions for all cryptocurrencies have been liquidated, according to data from CoinGlass. Most of these positions were betting on Bitcoin, the largest cryptocurrency by market cap, with liquidations of short BTC positions now at nearly $36 million in 24 hours. In the past four hours alone, nearly $22 million in BTC shorts have evaporated.