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via Cointelegraph · By Cointelegraph Staff
Bitcoin Bears Boost Shorts, Will Bulls Liquidate Them And Reverse BTC Price?
BTC
BTC/USDT
$63,061.02
-0.02%
$63,061.02
-0.02%
(24s)24h Volume
$2,359,394,374.13
24h H/L
$63,175.00 / $62,920.00
Change: $255.00 (0.41%)
Long/Short
68.0%
Long: 68.0%Short: 32.0%
Funding Rate
+0.0024%
Longs pay
Data provided by COINOTAG DATALive data
CS
Cointelegraph Staff(07:28 PM UTC)
1 min read
Key takeaways:
- Over-leveraged Bitcoin short positions between $63,000 and $66,000 have created a potential $2.6 billion squeeze trap for bears.
- Negative perpetual funding rates indicate that bulls have fully deleveraged, significantly reducing downside risk.
The Bitcoin (BTC) crash to $61,100 on Friday wiped out $335 million in leveraged long positions. However, after a 21% decline in Bitcoin's…
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