$325 million in shorts liquidated amid crypto-wide market rally

A sector-wide digital asset rally has pushed the prices of bitcoin, ether and other top cryptocurrencies higher — upwards of 14% in the past 24 hours — and liquidated hundreds of millions of dollars worth of short positions from traders betting on a pullback.

According to Coinglass, $323 million in short positions were liquidated in the past 24 hours, compared to $103 million in long positions. 

Binance accounts for the majority of the liquidations, with $141 million liquidated — 73% of which were short positions. Bitcoin (BTC) traders were by far the hardest hit, with $233 million in positions liquidated. 

Source: Coinglass

The liquidations come amid an industry-wide rally…

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