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Are Bitcoin Bears Losing Out? $31 Million Wiped Out In BTC Shorts Liquidation

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Are Bitcoin Bears Losing Out? $31 Million Wiped Out In BTC Shorts Liquidation - NewsBTC

Quick Summary:

Binance Witnesses Largest Shorts Liquidation Since April In a Quicktake post on CryptoQuant, a pseudonymous on-chain analyst, Darkfost, revealed that a large number of short positions were opened on Binance as Bitcoin dropped from its current all-time high price.

Related Reading: Bitcoin Advanced NVT Sits Above This Critical Threshold — What It Means For Price Action Darkfost went on to explain that as the price of BTC started its recovery, these short positions, expectedly — although slowly, got liquidated, becoming buying pressure for the cryptocurrency.

This trend suggests the abundant presence of short positions in the market, and also the unwillingness of Binance traders to go long.  Darkfost concluded that further liquidations or closures of these short positions could cause Bitcoin’s bullish trend to regain its momentum, thus facilitating further growth of the premier cryptocurrency.

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Article Details

Author / Journalist: Opeyemi Sule

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-11 @ 12:00:21 (1 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 367 words

Reading Time: 3 minutes read

Sentences: 66 lines

Sentence Length: 6 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 28565415

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About NewsBTC

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 3 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 9 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #102

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