Bitcoin Holds Gains After Massive Short Liquidation Event
After crypto’s dramatic surge higher overnight, the narratives have been flowing.
More than $950 million of crypto shorts were liquidated on Monday, the most since May 19, according to data from Bybt.com.
“The extent of the jump was probably driven by over-leveraged shorts,” said Vijay Ayyar, head of Asia Pacific at crypto exchange Luno in Singapore, while adding the rumors over Amazon likely had a role to play too.
For now, Bitcoin is holding on the majority of the short-squeeze gains…
Source: Bloomberg
Cue the FUD.
Tyler Durden
Mon, 07/26/2021 – 08:32
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