$BTC
⚡️ Behind the Bitcoin Surge: Short Sellers Lose Everything, Crypto Stock Traders Suffer Over $7.5 Billion in Losses!
Short sellers of cryptocurrency-related stocks suffer heavy losses
Overview:
Since Bitcoin hit an all-time high on November 6, traders shorting cryptocurrency and blockchain-related stocks have faced massive losses.
MicroStrategy short sellers' losses:
According to data analytics firm Ortex, from November 6 to November 8, short sellers of MicroStrategy lost over $1.2 billion in just these few days. Even more shocking, their total losses for the year have reached $6 billion.
Other cryptocurrency-related stock short sellers' losses:
Additionally, as of the November 8 close, short sellers of cryptocurrency exchange operator Coinbase Global, crypto mining companies Riot Platform, MARA Holdings, and Bitfarms have accumulated losses of approximately $1.2 billion.
BlackRock Bitcoin ETF short sellers' losses:
Since November 6, investors shorting the BlackRock Bitcoin Exchange-Traded Fund iShares Bitcoin Trust have also not been spared, with losses nearing $37 million.
