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BTCC / BTCC Square / CoindeskEN /
Crypto Carnage: Bitcoin, Ethereum, Dogecoin Rally Wipes Out $500M in Short Positions

Crypto Carnage: Bitcoin, Ethereum, Dogecoin Rally Wipes Out $500M in Short Positions

Author:
CoindeskEN
Published:
2025-04-23 06:08:53
7
3

Bitcoin, Ether, Dogecoin Surge Spurs $500M in Short Liquidations

A violent upside surge across major cryptocurrencies liquidated half a billion dollars worth of leveraged bearish bets—proving once again that the market loves nothing more than punishing overconfident traders. Bitcoin spearheaded the move with a 15% rally, while Ethereum and Dogecoin followed suit, squeezing shorts into oblivion. The usual suspects—overleveraged degens, hedge funds chasing momentum, and Elon Musk’s latest tweet—likely fueled the frenzy. Remember folks: in crypto, the house always wins... until it doesn’t.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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