"Bitcoin $120,000 reached triggers large-scale short liquidations… $2.4 billion scale"
JOON HYOUNG LEE
Summary
- "Bitcoin" price would trigger liquidation of $120,000-level $2.4 billion worth of short positions if it reaches $120,000, Cointelegraph reported.
- The figure cites data from on-chain analytics firm Coinglass.
- Bitcoin is currently trading at the $158,000 level, up about 4.5% compared with a week ago.
If the price of Bitcoin (BTC) rises to $120,000, short (sell) positions totaling $2.4 billion (about 3.3 trillion won) would be liquidated.
Cointelegraph said on the 13th (local time) via its official X account, "If Bitcoin reaches $120,000, more than $2.4 billion in short positions could be liquidated." The $2.4 billion figure cites data from on-chain analytics firm Coinglass.
Bitcoin is trading at the $158,000 level on CoinMarketCap as of that day. Compared to a week ago, it is about 4.5% higher.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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