Bitcoin Short Squeeze Caused Over $1 Billion In Liquidations
DETROIT, July 27, 2021 /PRNewswire/ -- Benzinga, a fintech media company providing news and data to retail investors and cryptocurrency traders, publishes its latest data study: Did Bitcoin Just Witness Its Largest Short Squeeze In History?
- DETROIT, July 27, 2021 /PRNewswire/ -- Benzinga, a fintech media company providing news and data to retail investors and cryptocurrency traders, publishes its latest data study: Did Bitcoin Just Witness Its Largest Short Squeeze In History?
- After breaking its psychological support of $30,000, investors were bearish on Bitcoin.
- With short positions increasing at a rapid rate, some cryptocurrency investors were calling for a short squeeze.
- After reclaiming $30,000 and continuing to increase to $35,000, these short sellers began to get liquidated, causing the price of Bitcoin to continue higher.