Over $50 Mln Worth of Bitcoin Shorts Liquidated as BTC Surpasses $11,000

Bitcoin is spending another day in the green after surging above the $11,000 level for the first time since Sept. 20 at 11:02 UTC on the Bitstamp exchange.            

The top cryptocurrency soared to as high as $11,118 before giving up some gains.    

As reported by U.Today, Bitcoin ended its 12-day streak of range-bound trading on Oct. 8 when payments giant Square announced the acquisition of $50 mln worth of BTC.                  

The overleveraged bears who expected the Square pump to dissipate the following day took quite a beating this morning, with $50.56 mln worth of shorts being liquidated over the past hour, according to data provided by Bybt.