Traders betting against Bitcoin and the crypto markets are getting liquidated as BTC’s price pushes above $80,000.
IIn the last 24 hours, a total of $375.02 million in leveraged crypto bets have been liquidated, according to the market data tracker CoinGlass.
The vast majority of the liquidations hit traders going short, coming in at $304.96 million.
Bitcoin led the wipeouts with $160.8 million liquidated, nearly all from short positions. Ethereum followed at $84.7 million, also dominated by shorts.
Over 98,000 traders were forced out.
Bitcoin is now trading at $80,416, up nearly 3% in the last 24 hours.
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