Bitcoin Short Positions Worth $1.266 Billion Liquidated as BTC Rebounds to $66,000

IconCryptoNewsTerminal Staff19 Jul, 2024

cryptonews.jpg

Bitcoin Short Positions Worth $1.266 Billion Liquidated as BTC Rebounds to $66,000

According to data from CoinGlass, approximately $1.266 billion worth of short positions were liquidated as Bitcoin (BTC) rebounded to $66,000. This surge in liquidations indicates that many traders who had bet against BTC were forced to close their positions at a loss. Conversely, if BTC were to drop to $62,000, around $1.612 billion worth of long positions would be liquidated. This suggests that there is still a significant amount of leverage in the market, and a sudden price drop could trigger a cascade of liquidations. Traders should be aware of the risks associated with leveraged trading and should carefully manage their positions.

Related News