A total of $96 million worth of positions on Bitcoin got liquidated in the last 12 hours, 77% of which were short positions.
Bitcoin surge started at 3 a.m. UTC on Sept. 9, and has recorded a 10.5% increase since then. The price broke $20,000 in three hours and $21,000 in about 15 hours.
BTCUSD (via Tradingview)
The rally began at around $19,335 and increased up to $21,374. Bitcoin is trading at $21,220 at press time.
In the meantime, liquidations kept increasing in amount. According to Coinglass, a total of $96 million in positions on Bitcoin got liquidated in the last 12 hours. CryptoSlate analysts stated that 77% of the $96 million came from short positions.
Around $38 million got liquidated in the last four hours, which comprises 40% of the total $96 million. The numbers keep increasing rapidly as Bitcoin continues its surge.
Journalist at CryptoSlate
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
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