Chair

Bitcoin

Gary

Daily

A whopping $222m worth of Bitcoin shorts have now liquidated in the past 24hrs according to crypto market analyst Watcher.Guru. 
Bitcoin (BTC) hit a new record-high of $89,956.88 following the historic comeback and victory of president Donald Trump. 
The markets as a whole have been on an uptrend, causing short sellers major pain. 
Watcher.Guru <a href="https://x.com/WatcherGuru/status/1856322955367641223" target="_blank" rel="noreferrer noopener">reports</a> that a total of $222,222,000 worth of Bitcoin shorts liquidated their positions in just the past 24 hours as the crypto asset hit a new all-time high. 
And according to blockchain analytics firm Lookonchain, one major investor experienced a liquidation of $74.98 million&nbsp;during the presidential election — in just one day alone. 
“Unbelievable! After BTC hit a record high, a whale shorting BTC was liquidated for $74.98 million!” they <a href="https://franknez.com/whale-now-loses-whopping-75m-shorting-bitcoin/">noted</a>. 
Data from Coinglass indicates that on Election Day, approximately $413.8 million in short positions were liquidated, with the majority being on Bitcoin. 
Binance experienced the highest number of liquidations, followed by OKX and Bybit. 
Lookonchain also&nbsp;<a href="https://x.com/lookonchain/status/1853827468421202202" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;significant outflows from Bitcoin and Ethereum (ETH) exchange-traded funds (ETFs) before the polls closed. Fidelity’s ETFs had the largest withdrawals, with notable figures including: 
<ul class="wp-block-list"> 
 <li>Bitcoin ETFs:&nbsp;Net outflow of 5,500 BTC, totaling around $381.85 million. Fidelity withdrew 2,513 BTC, maintaining a current holding of 184,597 BTC valued at about $12.82 billion.</li> 
 <li>Ethereum ETFs:&nbsp;Net outflow of 13,269 ETH, equivalent to roughly $32.38 million. Fidelity saw outflows of 13,000 ETH, with a current holding of 162,000 ETH worth around $395.28 million.</li> 
</ul> 
How soon will Bitcoin hit $90,000? 
This is exactly what investors are discussing all over social media platforms today. 
The race to $100,000 per Bitcoin is now closer than it’s ever been before. 
BTC is currently trading at 85,956.71 at the time of this writing. 
Read&nbsp;<a href="https://franknez.com/daily-crypto-news/">Daily Crypto News</a>&nbsp;for more news and updates like this. 
Follow us on&nbsp;<a href="https://coinmarketcap.com/community/profile/FrankNez/">CoinMarketCap</a>. 
Also Read: <a href="https://franknez.com/gary-genslers-days-as-sec-chair-are-now-numbered/">Gary Gensler’s Days As SEC Chair Are Now Numbered</a> 
The post <a href="https://franknez.com/a-whopping-222m-worth-of-bitcoin-shorts-have-now-liquidated/">A Whopping $222M Worth Of Bitcoin Shorts Have Now Liquidated</a> appeared first on <a href="https://franknez.com">Daily Market News 🗞️</a>.

A Whopping $222M Worth Of Bitcoin Shorts Have Now Liquidated

FrankNez

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