Investing.com - Financial Markets Worldwide
🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Bitcoin Short Sellers Feel the Squeeze as BTC Nears 2022 Highs of $37k

Published 09/11/2023, 14:19
Updated 09/11/2023, 14:45
© Investing.com Bitcoin Short Sellers Feel the Squeeze as BTC Nears 2022 Highs of $37k
BTC/USD
-

Coin Edition -

  • Bitcoin passed $36,000 for the first time since last May, triggering a short squeeze.

  • CoinGlass data shows 56,581 traders face $164.39 million in losses.

  • Bitcoin’s rally coincides with SEC-Grayscale discussions for potential spot ETF approval.

Bitcoin’s price has soared past the $36,000 threshold, marking the first time since May 2022 that the leading cryptocurrency has reached this level. This uptick has led to “a short squeeze” under a four-hour timeframe, resulting in nearly $50 million of liquidations.

In a recent tweet, the prominent derivative market tracker CoinGlass captured the short squeeze reoccurrence.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.