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$230 Million Shorts Liquidated in 4 Days as Bitcoin Rising 18%


The past four days have been overwhelmingly bullish within the cryptocurrency community. While there is still some caution, market sentiment appears to be clearing soon. Over the past four days, the price of bitcoin has surged a whopping 18% from just over $37,000 to over $44,000 where it is trading at the time of writing this (on Bitstamp) chart by TradingView. In fact, the price briefly passed above $45K during Tuesday’s trading session, reaching as high as $45,500. It has since been corrected and currently sits at around $44K. It is safe to say that bears have seen better days as data from CryptoQuant shows that more than $229 million worth of short positions were liquidated in the perpetual markets during this period. Source: CryptoQuant Bitcoin remains highly volatile at the time of this post and it is important to be very vigilant and cautious. It’s also worth noting that the overall funding ratio is currently negative. SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and get $100 Free and 10% Off Fees on Binance Futures First Month (Terms and Conditions). PrimeXBT Special Offer: Use this link to register and enter POTATO50 code to get 25% off trading fees.
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