Bitcoin Price is $4K Away From Wiping out the Next Wave of Shorts

Bitcoin’s price closed last week near $84,000 and flushed an estimated $140 million in short positions, leaving a fresh wall of bearish leverage stacked between $86,000 and $88,000. Nearly $140 million in shorts were liquidated as bitcoin confirmed a weekly close above $83,000. Hours earlier, a heatmap shared by Kook Capital showed about $95 million in shorts wiped out as BTC knocked on $84,000. That chart put bitcoin liquidations at $26.34 million, with 93.3% of them shorts. Ether shorts fared worse, with the same data showing $29.50 million in ETH liquidations, 80.9% of them shorts.

Source: Bitcoin.com News