The sharp rise in Bitcoin has become the cause of elimination of shorts $ 64-million

Trading between the Bitcoin on a regular cryptomeria and futures on BTC have a pretty close relationship. As soon as the asset value grows on futures, a similar scenario is expected from conventional trading. This time trend has changed, with the breakout of the resistance level of 10 thousand dollars has led to a massive liquidation of short positions. According to preliminary estimates, the total value of all liquidated shorts over the past day has exceeded $ 60 million.

At the moment, Bitcoin is trading on the line 11 of 109 dollars. 24 hours in the cryptocurrency grew by 13 percent, and the index of its dominance has almost reached 60 percent.

Why you should not short sell Bitcoin

The exchange BitMEX has a registry “of the fallen traders.” It can be seen in the history of the messages the bot BitmexRekt on Twitter. This morning his account was blowing up from the reports on liquidated short positions. In just a few hours of their amount reached 64,38 million dollars.

Source: AMBCrypto

However, such a scenario was quite expected. In the past any significant leap of Bitcoin prices up was accompanied by a motley bunch of messages in BitmexRekt.

The last time such a large series of killings occurred when the market was relatively calm. A few days Bitcoin has increased from 8000 to 8800 dollars, which led to the loss bears to the total amount about 130 million dollars.

By the way, the situation in trading Bitcoin futures on CME also offers bullrun. Recall that in early April the volume of transactions on the trading floor rose by 950 percent. After some time it became clear that large traders played only on the increase.

A few days ago, co-founder of the exchange Gemini Tyler Winklevoss predicted a slight growth of Bitcoin up to 15 thousand dollars. So BTC will never fall, sign up for our cryptcat of hontarov!


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