Bitcoin News: The global digital asset market registered a massive rally on Wednesday as the biggest cryptocurrency, Bitcoin (BTC) price jumped by around 8% over the past 24 hours. Data depicts the current Bitcoin price surge has left the crypto shorters bleeding.
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Bitcoin Price Jump Move Crypto Market Up
According to the Coinglass data, more than 46K traders have been liquidated in the last 24 hours. The cumulative liquidation has been reported to be over $162.05 million, while, the biggest liquidation order of BTC/USDT valued at $4.67 million got executed on the crypto exchange Binance.
Out of the total liquidations of $162.05 million, 80.4% of the positions (approx worth $130 million) turn out to be short positions. This suggests that crypto traders were expecting a major Bitcoin price drop as uncertain sentiments guided the market. However, Binance reported the most liquidation, $54 million, over the past day.
Alone Bitcoin saw more than $75 million worth of long and short liquidation over the past day. As per the data, $61.21 million worth of Bitcoin short positions got liquidated. Read More Bitcoin News Here…
While, the biggest altcoin, Ethereum (ETH) registered over $27 million of long and short liquidation amid the ongoing rally. Around $21 million worth of short position got liquidated in the last 24 hours.
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