While Bitcoin Tapped New Price Highs, 78,000 Short Positions Worth Over $800 Million Got Liquidated

While Bitcoin Tapped New Price Highs, 78,000 Short Positions Worth Over $800 Million Got Liquidated


While bitcoin has crossed a new all-time price high in 2021, traders are leery toward shorting the crypto asset. Data from Bitfinex shows the number of short contracts has been extremely low in comparison to the total number of shorts in mid-March 2020. On Saturday, January 2, 2021, when the price of bitcoin surpassed $33k, over 100 million dollars in short positions were liquidated in a matter of minutes.

On Saturday, during the afternoon trading sessions (EST), bitcoin (BTC) reached $33,333 per unit. The price is a lifetime high, in terms of fiat value, during the course of the crypto asset’s 12-year existence. Bitcoin’s value has also increased a great deal since March 12, 2020, otherwise known as ‘Black Thursday.’ Since that day, the price of BTC has risen over 777% outshining nearly every asset under the sun, besides a few other crypto assets.

Liquidated short on XBTUSD: Buy 10,000,000 @ 30864 🏅🏆💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯 ~ I’m shocked, shocked

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