Short Positions See $143M in Liquidations as Bitcoin, Ether Gain 10%
Traders betting against a rise in cryptocurrencies suffered losses of up to $143 million in the past 12 hours as global markets recovered from Thursday's declines.
Bitcoin (BTC), ether (ETH) and other major cryptocurrencies have added close to 10% in 24 hours, almost regaining Wednesday night’s levels. Bitcoin traded near $38,400 at the time of publication, up from Thursday’s low of $34,725.The rebound, which started in U.S. morning hours on Thursday, caused over $184 million worth of losses due to liquidations on crypto-tracked futures in the past 12 hours.
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