Bitcoin Rally Wipes Out Billions in Short Positions
Bitcoin's recent price surge has caused significant losses for short sellers, wiping out nearly $2.7 billion in 24 hours.
The price of BTC-USD surged towards $70,000 on August 20, marking the largest wave of forced short liquidations in records dating back to 2021.
According to CoinGlass, total crypto liquidations reached nearly $3 billion across 170,332 traders.