Rally

Bitcoin ETF

Bitcoin

Million

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoins-rally-crushes-short-sellers-over-79-million-in-shorts-liquidated">Bitcoin’s Rally Crushes Short-Sellers: Over $79 Million in Shorts Liquidated</a><br></p>
<p style="text-align: justify">The cryptocurrency market is witnessing a significant increase in value, spearheaded by <a href="https://en.bitcoinhaber.net/bitcoin-eyes-new-peaks-as-etf-speculations-surge">Bitcoin</a>‘s recent surge past $51,000. This upward trajectory has been detrimental to bearish investors who anticipated a decline in the digital currency’s price. On February 14, these short-sellers saw their positions liquidated, meaning a forceful closure of their trades due to incorrect market predictions, as reported by CoinGlass, a blockchain data analysis firm. This event has had a considerable impact on the futures market, indicating a strong bullish sentiment in the current crypto environment.</p> 
<h2 id="massive-setback-for-bitcoin-bears">Massive Setback for Bitcoin Bears</h2> 
<p style="text-align: justify">The surge in Bitcoin’s market value has led to a considerable loss for investors who gambled on its decline. In a single day, Bitcoin shorts exceeding $79 million in value were eliminated from the market. This trend reflects a broader pattern across the cryptocurrency landscape, with total liquidations of short positions amassing $147 million according to CoinGlass. These liquidations occur when the market moves in the opposite direction to what the short-seller predicted, leading to an automatic closure of the position.</p> 
<h2 id="capital-inflow-spurs-bitcoin-gains">Capital Inflow Spurs Bitcoin Gains</h2> 
<p style="text-align: justify">Bitcoin’s ascent is partly attributed to significant investments into crypto-related financial products, such as Bitcoin ETFs, which have seen increased activity over recent weeks. The U.S. Securities and Exchange Commission approved new Bitcoin ETF offerings on January 10. These funds have since experienced a substantial influx of capital, supporting the price increase of the leading cryptocurrency.</p> 
<p style="text-align: justify">A CoinShares report from February 12 highlighted a $1.1 billion investment into crypto asset funds during the previous week. Bitcoin’s price soared by over 6% on the day, marking a 20% rise within a week. Despite this impressive performance, Bitcoin’s value remains 25% shy of the record high of $69,044 recorded in November 2021. The market is also keenly observing Bitcoin’s upcoming halving event in April, with various analysts debating its potential impact on the cryptocurrency’s future.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoins-rally-crushes-short-sellers-over-79-million-in-shorts-liquidated">Bitcoin’s Rally Crushes Short-Sellers: Over $79 Million in Shorts Liquidated</a></h5>

Bitcoin’s Rally Crushes Short-Sellers: Over $79 Million in Shorts Liquidated

Table of Contents

BH NEWS

Outros artigos publicados em 14 de fev. de 2024

Whale Ethereum Kembali Serok, Memicu Spekulasi Pasar dan Sinyal Selanjutnya

Crypto Gaming Platform PlayDapp Hit By Double Exploits, Losing $290 Million In Massive Breach

Ethereum ETF Countdown: Market Awaits Transformative Approval in 100 Days

AI-Powered Gaming Platform Ultiverse raised $4 Million at $150 Million Evaluation

Fed Member’s Statements Signal Economic Optimism

Debt Box Wants SEC’s Dismissal Request Denied: Report

Join our free newsletter for daily crypto updates!