In just one hour, more than $50M worth of $BTC short positions have been liquidated.
This sharp wave of liquidations happened as $BTC ’s price quickly moved upward, forcing traders betting against Bitcoin to close their positions at a loss.
Short liquidations often act as fuel for further price gains, as traders are forced to buy back into the market to cover their losses which can trigger a “short squeeze” and push prices even higher.
With momentum building, traders will be watching closely to see if this move sparks a larger rally or if the market cools off.
