📈 Urgent Market Update: Significant Liquidation Event! 🚀
Attention, esteemed investors!
A significant liquidation event has occurred, with almost $100M in Bitcoin and Ethereum shorts liquidated as the Global Easing Cycle commences.
This positive sentiment is fueled by BlackRock, the world’s largest asset management firm, recently announcing its tokenized fund targeting Ethereum’s BUIDL products.
The cryptocurrency market began the Asian trading session on a bullish note, driven by favorable developments and a substantial short squeeze. Bitcoin (BTC) and Ethereum (ETH), the leading cryptocurrencies, experienced a surge, with over $100M in leveraged short positions liquidated within the past 24 hours.
Data from CoinGlass revealed this substantial liquidation event. Leveraged futures positions worth over $100M were forcibly closed during the last 24 hours, with approximately $55M stemming from short bets on Bitcoin and $45M from short positions on Ethereum. These short sellers, who were anticipating price declines, were caught off guard by the sudden uptick and faced significant losses.