Trail of Destruction: Bitcoin’s $13,000 Rally Liquidated $360m in Short Positions

Bitcoin’s price has stabilized at just below $13,000 following its immense surge seen yesterday The cryptocurrency has been flashing continued signs of strength as of late, and its ability to maintain its recent gains is decisively bullish While looking back on the aftermath of yesterday’s move, its magnitude and influence over the market grows clear According to one data platform, a total of $360 million in BTC short positions were liquidated throughout the course of the rally Traders are now actively jumping into positions, with open interest for Bitcoin surging past $4 billion Bitcoin and the entire crypto market have been caught in the throes of a strong bull trend throughout the past few days. Although Bitcoin kicked off this bull trend in the absence of altcoins rallying, smaller digital assets are now catching up. While speaking about the effects this latest push towards $13,000 had on the underlying market,…

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