Elon Musk-Prompted Bitcoin Price Surge Causes Liquidation of $387M in Shorts
The shorts were liquidated after Elon Musk added "Bitcoin" to his Twitter bio and prices rose by over 15%.
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Bitcoin price continues to see incredible movements over the past 24 hours. The price of the coin has moved over 10% as the crypto market sees increasing momentum. The movement comes hot on the heels of the news breaking of rumors of Amazon integrating bitcoin payments in their platform. The market seems to have taken this and just run with it. Although the news is yet to be confirmed, investors continue to rush to buy the digital asset. The price surge has led to hundreds of millions of shorts being liquidated in just a 24-hour time frame. So far, the market has seen over $1 billion....
Elon Musk recently introduced an artificial intelligence venture called xAI, aimed at revolutionizing the field of AI. This announcement has sparked a notable surge in the value of cryptocurrency tokens associated with AI. In an intriguing move, xAI has been established as an independent entity, separate from Musk’s prominent technology enterprise, X Corp. This strategic […]
The latest rally in BTC shorts is similar to what appeared ahead of the Elon Musk-led May 19 market crash. Bitcoin (BTC) bulls should brace for a potential onslaught from bears as the number of margined short positions on Bitfinex jumps by a little over 378%.Known to most by the ticker BTCUSD Shorts, the dataset records the number of bearish positions in the Bitcoin market. In simple terms, traders borrow funds from Bitfinex — their broker — to trade bet on bearish outcomes for the instrument BTC/USD. Meanwhile, the value of opened short positions is measured in BTC.The number of short....
Tesla and Spacex CEO Elon Musk has hinted that “X, the everything app,” is coming. He explained that his purchase of the social media platform Twitter is an accelerant to the creation of X, which could knock three to five years off the project. Elon Musk’s X — The Everything App Tesla CEO Elon Musk […]
Investors are raising concerns about Elon Musk’s acquisition of Twitter. After soaring to a multi-week high price, the Dogecoin has crashed by 20% and is trading at $0.1381 with a total market cap of around $18 billion. In an announcement on Monday, Twitter agreed to be acquired by Tesla and SpaceX CEO Elon Musk for $54 per share. This would give the company a value of more than $44 billion. Related Reading | Dogecoin (DOGE) Struggles, Drops 9% After Elon Musk Twitter Buyout Many people thought that Musk buying Twitter would help boost Dogecoin’s momentum. For 24 hours, it seemed as....