$8 billion of BTC shorts at risk as Bitcoin climbs toward $110,000
After a relatively protracted stagnation between approximately $94,000 and about $99,000, Bitcoin (BTC) finally broke above $100,000 late on Wednesday, December 4, and even almost climbed to $104,000 during the upswing. Though such a move is undoubtedly good for BTC bulls and ensures the majority of long positions are in the green, it bodes ill for those investors who wagered the world’s premier cryptocurrency could not sustain the positive momentum. Specifically, at press time on December 5, $110,000 is shaping up to be a highly painful level for those who bet Bitcoin’s price will drop. Approximately $8 billion worth of shorts will be liquidated once it is reached, according to data retrieved by Finbold from CoinGlass on Thursday. Picks for you Here's how much NYC mayor Eric Adams is up his Bitcoin bet 12...