$HIVE Short Liquidation: A short position is when a trader borrows an asset (like $HIVE and sells it, betting that the price will decrease. If the price rises instead, the trader may be forced to buy the asset back at a higher price, resulting in a loss. A short liquidation happens when the price reaches a level that forces the trader to close (liquidate) the position to prevent further losses.

$1.1198K: This refers to the value of the short position being liquidated, which is approximately $1,119.80.

$0.57961: This is the price at which the short position was liquidated. When the price of $HIVE reached $0.57961, the trader’s short position was forced to close (liquidate), likely due to the price rising above the threshold where their position could no longer be maintained.

This event could indicate a price surge for Hive ($HIVE), causing traders with short positions to be liquidated, possibly triggering additional price movements or volatility. Liquidations in short positions can sometimes lead to a "short squeeze," where the price increases further as traders are forced to buy back the asset.

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