Bitcoin tops $84,000 and liquidates nearly $83 million in short bets
Photo: Crypto Briefing
A push above a heavily contested price level caught bearish traders leaning the wrong way, again Bitcoin climbed above $84,000, and the traders betting against it paid the bill. Nearly $83 million in short positions were liquidated as the price cleared the level. A short position is a bet that the price will fall. When traders borrow to make that bet, the exchange sets a price at which the position gets closed automatically. Bitcoin crossing that line triggers a forced exit. Forced closures of short positions have a side effect.
Source: Crypto Briefing
