$57 Million in Bitcoin Shorts Liquidated in 10 Minutes on Binance Thanks to Elon Musk

$57 Million in Bitcoin Shorts Liquidated in 10 Minutes on Binance Thanks to Elon Musk
HeadlinesNews$57 Million in Bitcoin Shorts Liquidated in 10 Minutes on Binance Thanks to Elon Musk

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$57 Million in Bitcoin Shorts Liquidated in 10 Minutes on Binance Thanks to Elon Musk

U.Today3 months ago
Published on January 29, 2021 09:58 GMT+0edited on January 29, 2021 09:59 GMT+0

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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.

BTCImage via Twitter

After Elon did that, Bitcoin showed a massive rise, surging from the $32,000 zone to over $36,000.