Sellers Step In As Bitcoin Soars, But Could Lead To Short Squeeze Higher
Bitcoin price nearly hit $13,000 today after an almost $1,000 intraday candle tapped the remaining bear market resistance keeping new all-time highs at bay a little while longer. With so many traders in profit, short-sellers have stepped up in a major way, opening millions in positions betting big that the recent uptrend will soon reverse. […]
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Data shows that on Monday crowded Bitcoin shorts have lead to the largest recorded squeeze in the history of the cryptocurrency. Bitcoin Records Largest Short Squeeze Ever As per an Arcane Research report, BTC has recorded the largest squeeze in its history where $750 million worth of shorts have been liquidated. Here is a chart that shows the data for Bitcoin short liquidations over the past one year: BTC short squeeze spikes | Source: Arcane Research As is clear from the above graph, the short squeeze seen on Monday, 26 July, hasn’t been observed in the past year. In fact,....
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Bitcoin saw $150 million worth of short contracts obliterated within hours. Roughly $150 million worth of shorts were liquidated within a span of hours as the price of Bitcoin (BTC) rose from around $47,000 to over $53,000 on April 26.The cryptocurrency market as a whole saw a strong short squeeze, as Ether (ETH), Binance Coin (BNB), and other major cryptocurrencies also rose by around 15% in the same period.Following Bitcoin's 12% recovery within a single day, the futures market has completely reset, with funding rates hovering at neutral levels.Why today's Bitcoin short squeeze is....
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After beating Wall Street with its short squeeze of GameStop stock, the members of r/wallstreetbets should level up with Bitcoin. The post After GameStop Short Squeeze, r/Wallstreetbets Is Ready For Bitcoin appeared first on Bitcoin Magazine.