As all cryptocurrency heavyweights approach all-time highs, bears face nine-digit selloffs
Today, Nov. 8, 2021, Bitcoin (BTC) and Ethereum (ETH) continued their rallies after small “dips.” The second cryptocurrency even managed to set a new all-time high. How many traders have been liquidated?
$172 million in shorts liquidated in 24 hours
According to the leading cryptocurrency trading dashboard, Coinglass (previously, Bybt), today’s session was the most painful for crypto bears in three weeks.
In the past 24 hours, $ 240 million in short and long positions have been liquidated. A total of $130 million was lost by Bitcoin (BTC) traders, $50 million by Ethereans, and owners of XRP, DOGE, SHIB and SOL are responsible for more than $20 million in liquidations.
Seventy-three percent of recorded liquidations were “shorts”: a total of 46,831 traders lost their funds.
The largest single liquidation was registered on OKEx in a BTC/USDT pair: a Bitcoin bear lost $6.57 million in no time.
On October 19, 2021, when Bitcoin (BTC) hit an all-time high, Bitcoin (BTC) bears lost $ 254 million in 24 hours.
Bitcoin (BTC) surpasses Tesla and Silver in one day?
As covered by U.Today previously, today Bitcoin (BTC) surpassed Tesla by market capitalization for the first time in its history.
As such, Bitcoin (BTC) is now the eighth largest asset by market cap. However, some analysts are certain that Bitcoin (BTC) has sensationally surpassed Silver (XAG) by market cap.
The fact that Silver is “returned” by Bitcoin (BTC) has not been confirmed by the largest capitalization tracker, CompaniesMarketCap.
