Crypto Shorts Get Rekt: Liquidations Near $800M as Bitcoin Price Spikes

The price of Bitcoin is soaring Wednesday, and traders betting against the leading cryptocurrency and other top assets are feeling the pain—to the tune of nearly $700 million worth of liquidated short positions over the last 24 hours. Bitcoin was recently trading for $96,867, and hit its highest price since November 14, according to data from CoinGecko. The top asset is up nearly 5% over the last day and just over 5% on the week, though it remains down about 23% from its all-time high above $126,000 set i ...