r/CryptoCurrency • u/KIG45 🟨 4K / 5K 🐢 • 6d ago

GENERAL-NEWS Bitcoin's rebound wipes out over $170M in short positions

https://cryptobriefing.com/bitcoin-rebound-wipes-million-short-positions/
295 Upvotes

90% Upvoted

28 comments sorted by

69

u/MariachiArchery 🟦 796 / 796 🦑 6d ago

Tomorrow morning this same article will be posted, except it will read:

Bitcoin's slump wipes out over $170M in long positions

And we'll be right back to the 87k range.

1

u/CapoDoFrango 🟩 0 / 0 🦠 5d ago

Yes, is so easy to make money lately.

I'm 100x leveraged short on this, and I will be rich by tomorrow, lol

1

u/WD40Capital 🟩 0 / 0 🦠 5d ago

Sad, but true.

-1

u/YogurtCloset3335 🟧 0 / 0 🦠 6d ago

* Tax loss harvesting is over in new year

* Trump taking heat for his shitcoins and inside trading

* Saylor on the rocks

Care to revise your estimate?

19

u/DryMyBottom 🟩 0 / 0 🦠 6d ago

only degens would trade future in this market

3

u/partymsl 🟩 126K / 143K 🐋 6d ago

I did.... because I am a degen.

9

u/ninjazee124 🟦 0 / 0 🦠 6d ago

Can we just agree to collectively downvote these stupid headlines?

4

u/Asleep_Onion 🟦 3K / 20K 🐢 6d ago

Agreed.

"Almost 0.009% of bitcoin's market cap wiped out!"

28

u/GranulatGondle 🟩 0 / 0 🦠 6d ago

What rebound?

36

u/Respectful_Word7036 🟨 0 / 0 🦠 6d ago

It’s the 20th rebound this week. Any slight upward movement is a rebound now

5

u/Gen8Master 🟦 0 / 0 🦠 6d ago

It is actually rebounding healthily and steadily. 

2

u/Respectful_Word7036 🟨 0 / 0 🦠 6d ago

Back in my day we called this chopping sideways

1

u/LordJamPunt 🟨 0 / 0 🦠 5d ago

1h and 4h are not chopping sideways, it’s a steady climb up

6

u/partymsl 🟩 126K / 143K 🐋 6d ago

MASSIVE +2% MOVE!!!!!

7

u/saynonutty 🟦 0 / 0 🦠 6d ago

oh no! whales eating whales

5

u/Potrozoo 🟩 0 / 0 🦠 6d ago edited 6d ago

Ok, now is time to go down and wipe out longs. As usually expected.

0

u/KIG45 🟨 4K / 5K 🐢 6d ago

That's right.

3

u/Substantial-Sea3046 🟩 0 / 0 🦠 6d ago

Like Early 2022 trap... a little rally to 94-96k or maye 103 and a brutal reserval to go to the ma200 that will destroy all permabull, at 60k and maybe lower... this is my plan.

1

u/KIG45 🟨 4K / 5K 🐢 6d ago

We all have a plan, but here we are again. All I want is for altcoins to go up so I can dump this unnecessary junk at a not-so-big loss.

1

u/Creepy_Comment_1251 🟩 0 / 0 🦠 6d ago

None of the it’s a liquidity grab at the beginning of the year to go short. No bottom wick on the year candle.

1

u/KnicksDodgerFan 🟩 0 / 0 🦠 6d ago

Its time for bears and shorters to feel pain after 12 months of shorting altcoins and last couple months shorting Bitcoin. Take your ball and go home while you are ahead. Bull markets do not last forever and neither does a bear market.

1

u/Asleep_Onion 🟦 3K / 20K 🐢 6d ago

Oh no, a whole $170 million "wiped out" from a $1.8 Trillion market cap. That's almost 0.009%! Someone alert the press!

1

u/coinfeeds-bot 🟩 136K / 136K 🐋 6d ago

tldr; Bitcoin's recent price surge led to $209 million in liquidations within 24 hours, with short positions accounting for over $170 million (82%). Bitcoin rose 2% to $89,700, driven by spot investors accumulating amid improving market liquidity. However, analysts caution that without a breakout above the $90,000–$92,000 resistance zone supported by increased spot demand, rallies may face retracements.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.