The recent rally in the crypto market has shaken leveraged p

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The recent rally in the crypto market has shaken leveraged positions, but short traders have taken the biggest hit. Bitcoin (BTC) gained more than 13% last week, breaking above $70,000 for the first time. Ethereum (ETH) has regained its market cap of $450 billion, rising 30% over the week and may soon test the $4,000 level.😲 The market-wide recovery has increased the total cryptocurrency market cap by more than 7% in 24 hours to $2.7 trillion, according to CoinGecko. Transaction volumes also doubled to $220.5 billion. As this market volatility rattled investors, on May 21 CoinGlass' liquidation data showed $380.5 million of leveraged positions were wiped out, accounting for $294.3 million of short trades. Ether short positions generated liquidations of $104.9 million, the largest of any crypto asset.

The recent rally in the crypto market has shaken leveraged positions, but short traders have taken the biggest hit. Bitcoin (BTC) gained more than 13% last week, breaking above $70,000 for the first time. Ethereum (ETH) has regained its market cap of $450 billion, rising 30% over the week and may soon test the $4,000 level.😲
The market-wide recovery has increased the total cryptocurrency market cap by more than 7% in 24 hours to $2.7 trillion, according to CoinGecko. Transaction volumes also doubled to $220.5 billion.
As this market volatility rattled investors, on May 21 CoinGlass' liquidation data showed $380.5 million of leveraged positions were wiped out, accounting for $294.3 million of short trades. Ether short positions generated liquidations of $104.9 million, the largest of any crypto asset.

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