Bitcoin Shorts Worth $280 Million Liquidated With 6x Leverage Amid Potential Short Squeeze

Over the past 24 hours, Bitcoin short positions valued at approximately $280 million have been liquidated, indicating a strong upward movement in the cryptocurrency’s price. Earlier reports noted that two wallets, likely controlled by the same entity, had shorted Bitcoin with six times leverage at prices around $92,469 and $92,665, with position sizes totaling $74.5 million and liquidation prices set above $107,000. The rapid liquidation of these short positions suggests a potential short squeeze and a shift in momentum favoring Bitcoin bulls. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant