Bitcoin has hit a new all-time high at $75,000.
If Bitcoin breaks $83,000, a massive $800 million in shorts will be liquidated.
Over $525 million in shorts will be wiped off if BTC breaks $76,000.
Bitcoin (BTC) just hit a new all-time high after months of consolidation, pushing the broader digital asset market into the green. The new BTC ATH stands at $75,011.06, and further price surges could trigger massive liquidations.
According to the data from Coinglass, If Bitcoin breaks above $76,000, over $525 million in shorts will be wiped out, according to data from Coinglass. A substantial $670 million in shorts will be liquidated if BTC breaks $77,000, and more than $800 million will be wiped off if Bitcoin surpasses $83,000.
Read also: Bitcoin Poised for Breakout as Analyst Predicts $100K by Q4
On Binance, the world’s largest crypto exchange by trading volume, a whopping $213 million in shorts will be liquidated if Bitcoin claims the $80,000 price level. This liquidation of shorts will further push the price of BTC higher, as traders will have to buy back BTC to prevent losses.
As per CoinMarketCap data, at the time of writing, Bitcoin is trading at …
The post BTC Shatters All-Time High! $75K Breached, More Gains Likely appeared first on Coin Edition.
