Bitcoin Rally Obliterates $285 Million in Short Positions

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Bitcoin Rally Obliterates $285 Million in Short Positions—Here’s the Bloodbath

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2025-04-23 07:45:04

Crypto bears got steamrolled as BTC’s surge liquidated a quarter-billion in leveraged bets against it. Traders who gambled on a price drop now face margin calls—and a brutal reminder that the market hates pessimists. Meanwhile, Wall Street’s ’risk managers’ are still pretending they saw this coming.

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In the past 24 hours, Bitcoin’s price surged past $93,000, triggering the liquidation of over $285 million in short positions. This sharp upward movement caught many traders off guard, forcing the automatic closure of their Leveraged bets against Bitcoin. The current BTC price stands at $93,642, with an intraday high of $93,723 and a low of $88,027. The massive liquidations highlight the risks of shorting in the volatile crypto market, especially as Bitcoin continues to outperform expectations.

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