🚀 The crypto market explodes, nearly half a billion dollars in short positions vanish

Bitcoin unexpectedly surged, racing from $88,000 to as high as $94,000, pulling a series of altcoins like ETH, ADA, DOGE along with it, all skyrocketing.

The total loss for the short side reached nearly 530 million USD, primarily coming from major exchanges like Bybit and Binance. Notably, a short position on ETH on Binance was liquidated for up to 4.5 million dollars – an unimaginable painful sweep.

🔻 Shorters couldn't close their positions in time, only able to cry.