Bitcoin Shorts Squeezed Out $44M As Spot Demand Stays Weak
Over $44 million in short positions were wiped out on Binance in a single hour Monday — the largest one-hour short liquidation since February 6 — yet the price surge it helped trigger drew little enthusiasm from actual buyers. Related Reading: Shiba Inu Flirts With $0.0000052 Support As Exchange Supply Swells Futures Chaos, Not Fresh Money, Lifted BTC Bitcoin climbed to a weekly high of $71,801 on Binance during the US market session, pushed higher largely by forced closures of short positions rather than new capital entering the market. Aggregated open interest across Bitcoin futures fell....
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This third edition of Cycling On-Chain takes a closer look at bitcoin’s ongoing supply squeeze and recent short squeeze.
$726 million in Bitfinex shorts were quickly closed after Bitcoin price bounced at $30,500, leading traders to speculate whether bears have given up. On June 25, the amount of Bitcoin (BTC) margin shorts at Bitfinex increased by 22,000, equivalent to $726 million. At the time, Cointelegraph reported that there was a significant increase in Bitfinex's spot volume market share starting at 9 am UTC, matching the demand in the short margin.Data confirms that one (or more) whales actively shorted the market, betting on a price decrease. The average price of the trade was around $33,000, so....
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....
The entire market capitalization of all 10,800 cryptocurrencies in existence is down 2.8% on Monday as bitcoin has lost over 2.4% during the last 24 hours. Meanwhile, bitcoin shorts are rising again after bitcoin shorts tapped a two-year high on the derivatives exchange Bitfinex on June 25. Bitcoin Shorts Climb Higher Bitcoin (BTC) and digital markets, in general, have seen better days as BTC tapped an all-time high above the $64K handle three months ago but is still down 48.66% since then. Roughly 17 days ago, on Bitfinex, the number of BTC/USD short positions skyrocketed to levels not....
Quick Facts: ➡️ Monero surges around 20%, reigniting the privacy narrative, as shorts are squeezed and an upgrade pipeline adds fundamental support. ➡️ The recent Fluorine Fermi update and the upcoming Full-Chain Membership Proofs are driving $XMR’s next phase of growth. ➡️ Best Wallet ($BEST) has raised $19.6M+ in presale with a token price of […]