Rising dramatically in price, Bitcoin touched $31K and $100 million of shorts we liquidated

A large number of short risky positions were liquidated when Bitcoin rose to $30,950

Share

Bitcoin rose and touched $31K and left many of the traders in awe as they had bet on a bearish pullback.

cyvh.png

Source: Coin360

Further data from other sources have confirmed BTC’s peak at $30,960 on the second day of January 2021.

giho.png

TC/USD 1-minute candle chart. Source: TradingView

Followed by a bullish charge that raised BTC levels more while press-time levels were struggling to reach 31K. Not all the traders felt the same. Some were cheering and celebrating while others were gloomy.

zdfb.png

A tweet from a bot that tracked liquidated trades on BitMEX derivative said “I'm shocked, shocked to find that gambling is going on in here!”. The tweet states that the shorters had incurred $10m of loss.

The altcoins saw rises in their values as well. Dodgecoin rose by 42% while ETH, the second most well-known currency, dropped below $750.

Categories

Crypto Currency(5)

News

An office for Federal use of blockchain tech coordination

Rep. Soto is after establishing an office to monitor all the blockchain-concerned activities within the Federal government that are unrelated to defense. ...

JAN 03, 2021

Rising dramatically in price, Bitcoin touched $31K and $100 million of shorts we liquidated

A large number of short risky positions were liquidated when Bitcoin rose to $30,950 ...

JAN 02, 2021

Arrested under a 25 million rupee Indian crypto scam allegation at the Delhi airport.

The fraud seem to have lured people into investing in a 2017 scheme with a 20% monthly profit. ...

JAN 02, 2021

To raise its $117M IPO, INX is using the token listings on the exchanges around the world

Having raised up to $10M out of the total $117M so far, INX hopes to will have raised it by the end of the year. ...

DEC 30, 2020

Tags

Bitcoin