The post Crypto shorters bleed heavy amid “Extreme Greed” sentiments appeared on BitcoinEthereumNews.com.

The much anticipated bull run led by Bitcoin (BTC) is making shorters bleed heavily. The biggest crypto breached the $89,000 price level with a surge of over 10% in the last 24 hours. However, $90,000 now looks like just a formality as the Fear and Greed index is flashing “Extreme Greed” on the chart. The global crypto market cap spiked by 9.6% over the last day to hit the $3 trillion mark. Its 24-hour trading volume is up by 42% to stand at $314 billion. Bitcoin’s dominance is moving towards capturing the 59% level while major altcoins like Dogecoin (DOGE) and Ethereum (ETH) have gained by 142% and 38%, respectively, in the last 7 days. Bitcoin bulls crush crypto shorts As per the data shared by CoinGlass, more than 173k traders were liquidated in the last 24 hours. The volatile trading session has led to $700 million in liquidations. The largest single liquidation order of BTC/USDT valued at $15.70 million happened on Binance. $431 million worth of liquidated bets (62%) turns out to be the short positions set by the traders. This suggests that traders were hoping that the bullish momentum might halt and the market would correct after the brief rally. Meanwhile, the market printed broad green indexes. These losses are the highest since BTC’s April surge past $73K. Over $200 million in short liquidations were recorded for BTC futures, with $40 million in losses for bearish Ether positions. Source: CoinGlass Bitcoin price is up by 43% in the last 30 days. BTC is trading at an average price of $89,149, at press time. Its 24-hour trading volume is up by 80% to stand at $138.51 billion. Its market capitalization is now looking to hit the $1.8 trillion mark after a massive rally. Dogecoin’s wild 150% rally Dogecoin (DOGE)…

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Filed under: News - @ November 12, 2024 9:26 am