Traders betting against Bitcoin are getting wrecked to start the week, with nearly $1 billion in leveraged bets wiped out as BTC’s price punches through $86,000.
In the last 24 hours, $930.04 million in leveraged crypto bets have been liquidated, says CoinGlass.
Most of that is shorts. Bitcoin shorts alone come to $454.95 million. Bitcoin longs are $52.96 million.
Ethereum followed with $172.68 million in shorts and $28.61 million in longs.
More than 131,000 traders were forced out. The largest single close was an $11.29 million Bitcoin position on Binance.
Bitcoin is trading at $86,038 at time of publishing, up 5.5% in the last 24 hours.
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