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According to the Glassnode CTO and founder, Rafael Schultze-Kraft, traders on Binance have liquidated a staggering $57 million in Bitcoin futures short positions in just ten minutes.
He mentioned that this was the result of "a single word," obviously hinting at Elon Musk adding "Bitcoin" to his Twitter bio line earlier today. The news made headlines immediately.
After Elon did that, Bitcoin showed a massive rise, surging from the $32,000 zone to over $36,000.