It's been a terrible day for bears.
According to Bybt data, roughly $407 million worth of numerous cryptocurrencies got liquidated over the past four hours alone.
Short positions account for 82 percent of the wipeout.
Bitcoin is currently trading at $60,189 on the Bitstamp exchange after touching the $60,000 mark for the first time in history earlier today.
BTC is up six percent over the past 24 hours, with all the other top coins also trading in the green.
The flagship cryptocurrency's market share is approaching 62 percent.