- Crypto market surge impacts short sellers.
- $1.2 billion in losses recorded.
- Bitcoin and Ethereum hit new highs.
In a sudden market turn, crypto short sellers lost approximately $1.2 billion due to a sharp increase in cryptocurrency prices, particularly affecting Bitcoin and Ethereum across major exchanges such as Bybit and HTX.
Over $1.2 billion in short positions were liquidated as crypto prices surged, leading to widespread losses. Analysts note the event’s impact on market sentiment.
Many short sellers bet against Bitcoin and Ethereum, resulting in significant losses as prices surged. Over 232,000 traders were affected, and major exchanges saw substantial liquidation activities.
The market surge impacted crypto traders and exchanges, with Bitcoin reaching new highs. Liquidation feedback loops, where forced buys further drive prices, affected the market landscape.
“Over 95% of liquidated positions are shorts. That means a lot of traders were betting Bitcoin would fall – and they’re paying the price for it now.” – CoinGlass Analytics Team, CoinGlass
While retail and institutional traders faced significant financial consequences, the broader market dynamics shifted towards bullish momentum. Analysts observed market volatility following the surge.
Historical data suggests that market shocks can lead to increased market activity and volatility. The recent surge supports this pattern, as traders adjust their positions in response to fluctuations.
