Bitcoin Shorts Worth $780 Million at Risk if Price Exceeds $60,000
CryptoNewsTerminal Staff18 Aug, 2024
Bitcoin Shorts Worth $780 Million at Risk if Price Exceeds $60,000
Bitcoin (BTC) short positions worth $780 million are at risk of liquidation if the price of BTC surpasses $60,000. This surge in short liquidations would further fuel the ongoing rally and potentially drive the price of BTC even higher. The total value of BTC shorts has been declining since the start of the year, indicating that traders are becoming less bearish on the cryptocurrency. This trend is expected to continue if the price of BTC continues to rise. The liquidation of short positions can have a significant impact on the market, as it forces sellers to buy back BTC to cover their positions. This increased demand can lead to a further increase in the price of BTC. Traders should be aware of the potential risks associated with shorting BTC, especially in a bullish market. Liquidations can occur quickly and can result in significant losses.
