Bears, though, are probably less so. According to data on the crypto trading platform Bybt, over $450 million in Bitcoin short positions has been liquidated over the past 12 hours.
AD
AD
And beyond Bitcoin, over $520 million of all cryptocurrency was liquidated across the broad range of exchanges trawled by the site (these include Binance, Bitmex, OKEx, and FTX).
Liquidations of short positions on #Binance in the past hour: $94,293,438#Bitcoin
Nearly 50,000 traders were affected, and while the biggest losers were Bitcoin shorters, around $31 million of Ethereum and $22 million XRP was also liquidated.