$BTC surged to as high as $28,150 Tuesday afternoon in a short squeeze that liquidated some $36.6 million of short positions over the past 24 hours, CoinGlass data shows. sndr_krisztian reports
The largest cryptocurrency by market capitalization jumped to as high as $28,150 in a few hours after trading flat around $26,800 for most of the day,shows. It more recently pared some of its gains, dropped to around $27,900, but remains up 5.2% over the past 24 hours to outperform most other digital assets.
Traders who positioned for prices to drop lost some $36.6 million in liquidations over the past 24 hours, according to CoinGlassThe price surge comes after a number of large, financial services institutions have announced major crypto initiatives, brightening a mood grown sour in recent weeks from increasing U.S. regulatory pressure, including lawsuits against crypto exchanges Binance and Coinbase.
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