Bitcoin Bulls Crush Shorts: $181 Million Wiped After Crypto Rally
After Bitcoin surged beyond $41,000, the crypto futures market saw over $181 million in liquidations. According to CoinGlass, crypto futures experienced a turmoil with more than $311 million in contracts being liquidated in the last 24 hours. This huge liquidation is attributed to the volatility in the crypto sector during this period. These liquidations have primarily impacted short contract holders with $182 million in such contracts being lost. However, long contracts have also seen nearly $129 million in liquidations. Bitcoin led this futures flush with over $100 million, followed by Ethereum at nearly $38 million. This high risk of liquidations in the market makes crypto futures a risky investment for uninformed traders. Currently, Bitcoin is hovering around $41,500 following a pullback from above $42,000.
