Traders with a bearish bias saw massive liquidations in the last four days as Bitcoin surged 17 percent to a price of $44,700.
What Happened
According to data from on-chain analytics platform CryptoQuant, $229 million worth of short positions were liquidated in the crypto perpetual futures market after Bitcoin breached the $43,800 mark.$BTC market price($43.8K) spiked by +17.4% in the past 4 days - $229.2M short positions were liquidated in the perpetual markets in the past 4 days - Aggregated funding rate is currently negative
Set Funding Rate Alert https://t.co/Ceg4lh6mqL pic.twitter.com/WUnlU3PJW4
