In the last 24 hours, Bitcoin has engineered a notable comeback, reclaiming the $70K threshold after its recent bearish performance. Notably, BTC crashed to a low of $64,559 on April 3 but has rallied by over 10% to re-enter the $70K territory within the last 24 hours. However, Bitcoin momentarily failed to defend this recently […]
The post Bitcoin Shorts Get Burned Amid $72K Surge, Liquidations Top $170M appeared first on Coin Edition.
- Bitcoin has staged a notable comeback, reclaiming $70K after a recent dip to $64.5K.
- Shorts suffer over $63 million in losses as BTC surges to an intraday peak of $72,700.
- In the past 24 hours, 51,087 traders have lost $171.57 million to liquidation.
In the last 24 hours, Bitcoin has engineered a notable comeback, reclaiming the $70K threshold after its recent bearish performance. Notably, BTC crashed to a low of $64,559 on April 3 but has rallied by over 10% to re-enter the $70K territory within the last 24 hours.
However, Bitcoin momentarily failed to defend this recently reclaimed $70K threshold amid a retracement to within the $68K territory shortly after. Meanwhile, short traders swiftly leveraged the uptick to open positions, betting against BTC’s performance.
Prominent market watcher, Ali Martinez, has called attention to this trend in a recent update on X. Martinez’s update emphasized the substantial capital at risk of loss should Bitcoin recover swiftly from the new retracement.
Citing data from derivative market tracking platform Coinglass, the analyst disclosed that nearly $72 million would be liquidated from Bitcoin traders should the…
The post Bitcoin Shorts Get Burned Amid $72K Surge, Liquidations Top $170M appeared first on Coin Edition.
