The short traders witnessed a loss of $200 million this week, amid market climb.
Bitcoin has increased by nearly 23.31% during the week.
Bitcoin (BTC), the dominant cryptocurrency in the global crypto market, has been experiencing a positive price momentum since the beginning of 2023. The market leading coin has reached a two-month high of around $20k amid the market’s rapid surge. Despite this, short traders have witnessed a massive loss following the upsurge of BTC.
According to the latest reports, a total of $82,000,000 in Bitcoin short trades have recently been liquidated.
During the past few days, the global cryptocurrency market capitalization has attained a notable rally. The value of Bitcoin rose significantly along with the price of the top altcoins, such as Ethereum (ETH) and Cardano (ADA). However, as a result, the short traders witnessed a loss of $200 million this week, as per reports.
Bitcoin Bounces Back
According to the data from CoinGlass, 95,223 traders have b
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