Liquidations Hit $96 Million in Half a Day as Bitcoin Surpasses $21,000
A total of $96 million in Bitcoin positions were liquidated in the last 12 hours, 77% of which were short positions.
Bitcoin’s surge began at 3 a.m. UTC on September 9 and has recorded a 10.5% increase since then. The price broke $20,000 in three hours and $21,000 in about 15 hours.
The rally started at around $19,335 and increased to $21,374. Bitcoin is trading at $21,220 at press time.
In the meantime, liquidations have steadily increased. According coin glassa total of $96 million in Bitcoin positions have been liquidated in the past 12 hours. CryptoSlate analysts said 77% of the $96 million came from short positions.
About $38 million has been liquidated in the past four hours, representing 40% of the total $96 million. The numbers continue to rise rapidly as Bitcoin continues its surge.