Crypto short sellers get REKT losing $300 million in a day
The cryptocurrency market has undergone a robust rally, contributing more than $100 billion to its total market capitalization index since October 23. In the past 24 hours alone, this upward momentum has resulted in liquidations exceeding $400 million , with over $300 million originating from short positions. Notably, Bitcoin (BTC) was the protagonist, with a price appreciation superior to 12% in a day. Bitcoin short seller s were the biggest losers, with over $180 million in short positions liquidated of the $222 million BTC total liquidations. Ethereum (ETH) traders lost $60 million in the day, of which $44 million was also from crypto speculators betting on lower prices, according to data retrieved by Finbold on October 24 from CoinGlass . Interestingly, the higher liquidation volume occurred in the last 12 hours. In this period, $317 million was liquidated from short and long positions. Of which, 76% ($241 million) from short sellers getting ‘REKT.’ Liquidation heatmap. ...