Bitcoin Soars Above $18,000, Over $200M Shorts Liquidated

image-Bitcoin Soars Above $18,000, Over $200M Shorts Liquidated

January 12, 2023

Bitcoin’s price surged above $18,000, liquidating over $200 million worth of leveraged short positions.

Bitcoin’s price has been performing quite well throughout the past week after weeks of prolonged consolidation. At the time of this writing, it increased above $18,000 for the first time since December 14th.

  • BTC soared above $18,000, reaching as high as $18,370 (on Bitstamp) in Thursday’s early morning EU trading session.
  • The last time the cryptocurrency was trading at these prices was on December 14th.
  • The rest of the market also charted considerable gains, with ETH trading above $1,400.
  • This left a lot of short positions liquidated. In fact, over $200 million worth of leveraged shorts was liquidated in the past 24 hours alone, according to data from Coinglass. 
  • Interestingly, it was OKX that saw the largest volume of liquidations over the past day.

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