Traders betting against Bitcoin and crypto are witnessing a cascade of liquidations as Iran announces the Strait of Hormuz is fully open to commercial shipping.
In the last 24 hours, a whopping $815.42 million in leveraged crypto bets have been liquidated, according to the market data tracker CoinGlass.
The vast majority of the liquidations hit traders going short, coming in at $661.93 million.
Markets at large are rising in a sweeping relief rally as President Trump signals strong progress toward a landmark deal with Iran, dialing back fears of energy supply shocks and igniting fresh risk-on appetite.
BTC has surged from a 24 hour low of $74,695 to as high as $78,232, and has landed at $77,537 at time of publishing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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