Crypto Traders Bleed Heavily After Betting Against Market

The past week has been an eventful one for crypto traders, regardless of whether they were making profits or losses off the market. Over the weekend, the crypto market had seen some dramatic weekend, and as another trading week opens up, short traders have drawn the ‘short’ stick once more. Losses Reach $180 Million Over the last day, losses have ramped up in the market as the recovery trend has continued. It had first begun toward the end of last week when bitcoin had made a remarkable recovery above $20,000, pulling the rest of the crypto market up with it. Short traders had promptly begun to bleed following this, but it seems that would not be the end of their woes. Related Reading: Bitcoin Profitability Jumps As Price Adds $1,500 In 24 Hours The weekend would prove to be even more favorable for long traders had bitcoin made its way towards the mid $22,000s. In the wake of this, liquidations across the crypto market had ramped up, leaving tens of thousands of traders in losses. Liquidation volumes had reached as high as $180 million in the 24-hour period, as short traders suffered the most. Over the last 4 hours alone, liquidations across the market have crossed $25 million, the majority of these being short traders (73.29%). Market cap recovers above $1 trillion | Source: Crypto Total Market Cap on TradingView.com A total of 48,510 traders had been rekt at this time. The largest single liquidation event for the time p...