Alex Dovbnya
Hundreds of millions worth of shorts have been wiped out during Bitcoin's rally to $60,000
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.
Image by Bybt
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.
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.