News

Bitcoin Surge Wrecks Short Traders as It Hits $81K

itcoin hits an all-time high of $81,358, liquidating $180M in short positions

Bitcoin Surge Wrecks Short Traders as It Hits $81K
Quick Take
Quick Take
Bitcoin hits an all-time high of $81,358, liquidating $180M in short positions.
Shorters betting against Bitcoin lost $67M, with Dogecoin and Ether traders also hit hard.
Total liquidations, including long positions, surpassed $682M in 24 hours.
One OKX trader faced the largest single loss at $15.6M.
Your Article Title Here

Bitcoin’s recent rise to an all-time high of $81,358 has left crypto bears at a loss, with $180 million in short positions wiped out in just 12 hours, according to CoinGlass. This latest rally, fueled by post-election market optimism, marks a 6% spike in Bitcoin’s value.

current market shorts and longs

Shorters bore the brunt of the losses, including $67M liquidated on Bitcoin, $23M on Dogecoin, and $21M on Ether. Meanwhile, long positions weren’t spared either, with total liquidations across the board hitting $682M over 24 hours.

The most eye-watering loss? A single OKX user liquidated for $15.6M while swapping Bitcoin to Tether. Bitcoin’s dominance now sits at 59%, its highest level since April 2021, signaling the king of crypto remains unstoppable.

Read more