Bears wiped out as short positions on $ 1.13 billion cryptocurrencies closed

Bitcoin’s night Pump turned bear shorts into rags. Short positions in the $ 1.13 billion cryptocurrency were liquidated based on data from the bybt Futures Exchange. 

The quarterly downward and lateral action has convinced most people that it is the start of the bitcoin and cryptocurrency bear market. However, Bitcoin jumped out of sleep and surprised the Bears. 

The price of Bitcoin began to move when the weekly candle was ready. It quickly rose to $ 39,800 before returning to the $ 38,000 mark at the time of writing. 

Data from the bybt Futures Exchange shows that more than 103,000 traders have been liquidated in the past 24 hours, with the biggest loss occurring at huobi-BTC with a $ 29.3 million liquidation. 

The boom in the crypto Sunday may have been triggered by rumors that Amazon will begin accepting cryptocurrencies as payments in the near future. An article on Business Insider reported that the Sunday giant was looking for a leader who could be hired: 

“Developing Amazon’s digital currency and blockchain strategy and product roadmap”,; 

Bitcoin appeared to have begun to reverse its downward trend as the price broke a three-month downward triangle on Saturday. This particular chart shows a downward trend, so an upward break was very bullish. 

This was followed by the rest of the cryptocurrency market. Kriptorynka’s total capitalization rose to $ 1.57 billion, up 7.5% from the previous day. Almost all cryptocurrencies are currently recording a sharp rise against the dollar. 

Last week, Ethereum rose from a local low of $ 1700 to a high of $ 2385, making a 40% profit. During the same period, Polygon (Matic) made a profit of over 80%, reaching $ 1.12. 

DISCLAIMER: This article is for informational purposes only. Not recommended or intended for legal use,

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