The crypto industry saw over $180 million in liquidations between Dec. 20 and Dec. 21, as Bitcoin’s rally pulled the rest of the market upward.
Yesterday, Bitcoin’s price broke past the $44,000 barrier for the first time since early December before retracing to its current value of $43,735, according to CryptoSlate’s data.
Data from Coinglass showed that this price movement resulted in massive losses for traders who were betting against further price increases in the market. Short traders lost $105 million during the last 24 hours.
Meanwhile, traders who thought the bullish movement would continue across the market lost approximately $76 million during the reporting period.
Bitcoin traders lost $48 million, with 70% of the losses coming from short traders.
On the other hand, speculators on the price of Ethereum were liquidated for a total of $38 million. Interestingly, traders betting on ETH price increases contributed to most…
