Bitcoin and Ethereum surged on Wednesday, triggering the liquidation of $1.44 billion in crypto short positions within just four hours. Bitcoin approached $70,000, gaining nearly 6% to hit a high of $69,698. Ethereum rose almost 9%, briefly surpassing $2,100 to reach $2,112. In total, $1.61 billion in positions were liquidated over 24 hours, with $1.44 billion coming from bearish bets. Bitcoin and Ethereum accounted for approximately 85% of all crypto liquidations during the period.
Source: Read the original article
