$800m Liquidated: Bitcoin’s Rally to All-Time Highs Leaves Trail of Bear Blood

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Bitcoin saw some potent price action yesterday, with bulls sending it rallying from the mid-$20,000 region to highs of $23,700 The selling pressure here proved to be quite significant and slowed its growth, but the cryptocurrency does appear to be poised to see further upside One analytics firm explained in a recent tweet that a massive onslaught of short-sided liquidations fueled this movement Over the past few days, over $1 billion in short positions have been liquidated This may be one of the sole factors that helped add to the ferocity of this movement If more bears try to fade the rally to $23,700 and begin stacking short positions, it could open the gates for further upside Bitcoin and the rest of the crypto market have seen some mixed price action on a short-term timescale, with its macro trend resting firmly in bulls’ control. Traders have noted that where the…

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