Bitcoin

Coin

<ul class="news-points">
 <li>Bitcoin passed $36,000 for the first time since last May, triggering a short squeeze.</li>
 <li>CoinGlass data shows 56,581 traders face $164.39 million in losses.</li>
 <li>Bitcoin’s rally coincides with SEC-Grayscale discussions for potential spot ETF approval.</li>
</ul>
<a href="https://coinedition.com/bitcoin-btc-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin’s price</a> has soared past the $36,000 threshold, marking the first time since May 2022 that the leading cryptocurrency has reached this level. This uptick has led to “a short squeeze” under a four-hour timeframe, resulting in nearly $50 million of liquidations.
In a recent tweet, the prominent derivative market tracker CoinGlass captured the short squeeze reoccurrence.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BTC</a> Short squeezed again. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/HknRjCxOgc" target="_blank" rel="noopener noreferrer nofollow">https://t.co/HknRjCxOgc</a> <a href="https://t.co/Mq1MfCACFC" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Mq1MfCACFC</a>— CoinGlass (@coinglass_com) <a href="https://twitter.com/coinglass_com/status/1722458911092166902?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 9, 2023</a>
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For context, a short squeeze is a market phenomenon where a sharp increase in an asset’s price forces short sellers, who have bet against the asset’s rise, to close their positions, propelling the price even higher.&nbsp;
According to CoinGlass data, 56,581 traders were liquidated with $164.39 million in losses. Liquidation, a term dreaded by traders, involves the forceful closure of leveraged positions due to a partia…
The post <a href="https://coinedition.com/bitcoin-short-sellers-feel-the-squeeze-as-btc-nears-2022-highs-of-37k/" rel="noopener noreferrer nofollow">Bitcoin Short Sellers Feel the Squeeze as BTC Nears 2022 Highs of $37k</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin Short Sellers Feel the Squeeze as BTC Nears 2022 Highs of $37k

Coin Edition

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