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Traders bet on Bitcoin falling and face risk of losing $8 billion
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The Bitcoin market is experiencing a decisive moment, with the price of the cryptocurrency surpassing the US$100,000 mark last Wednesday, December 4th.
After weeks of stagnation between US$ 94 thousand and US$ 99 thousand, BTC broke the symbolic barrier and reached close to US$ 104 thousand. This movement brought significant gains for optimistic investors, but raised concerns for those who bet on the asset’s decline.
According to data from CoinGlass, if the price of Bitcoin reaches US$110 thousand, around US$8 billion in short positions can be liquidated. This scenario highlights the risk that many traders face when betting against the appreciation of the world’s leading cryptocurrency.
Over the past 30 days, the market has displayed an unusual balance between long and short positions, reflecting investor uncertainty. This balance makes sudden movements even more impactful.
Bitcoin Traders Could Lose Billions
Many traders, who believed that BTC would not sustain their recent optimism, they may face huge losses if the price continues to rise.
Data from CoinGlass shows that the December 4 and 5 rally saw BTC rise 6.20% in just 24 hours, with a weekly rally of 7.83% and an impressive growth of 48.96% in the last 30 days.
This performance highlights the strength of the asset in a context of significant political and economic changes.
Two recent political events helped boost the price of Bitcoin. Jerome Powell, Chairman of the Federal Reserve, compared cryptocurrency to gold, legitimizing its relevance as a store of value.
Furthermore, the announcement of Paul Atkins as the future chairman of the SEC brought optimism to the market. Atkins, a defender of cryptocurrencies, represents a contrast to Gary Gensler, current chairman of the SEC, widely criticized by the community.
The US political scenario, with the re-election of Donald Trump, also contributed to a more favorable environment for cryptocurrencies. Analysts believe that the new Republican administration can attract more investors to the digital market, solidifying Bitcoin’s upward trajectory.
Traders bet on Bitcoin falling and face risk of losing $8 billion
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Traders bet on Bitcoin falling and face risk of losing $8 billion
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Traders bet on Bitcoin falling and face risk of losing $8 billion
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Traders bet on Bitcoin falling and face risk of losing $8 billion
