Crypto Traders Suffer Over $100M of Short Liquidations as Bitcoin Hits 3-Month High Over $31K
BTC surged past $31,000 and other cryptocurrency prices soared sharply Monday, too, taking many leveraged traders by surprise.
Cryptocurrency derivatives traders have endured over $150 million of liquidations over the past 24 hours as rapidly surging digital asset prices caught many market participants off-guard.
Most of the positions wiped out – worth some $110 million – were leveraged shorts, or traders who bet that prices would fall, CoinGlass data shows. This was the second-largest amount of short liquidations in any day since late August.
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