Short Positions Reach $120 Million as Bitcoin and Ethereum Soar

• The recent price surge has left many short positions exposed.
• The market is poised for potential liquidations as key assets attain unprecedented price points.

The cryptocurrency market experienced significant liquidations during the trading session on November 9, triggered by movements in major currencies like Bitcoin [BTC] and Ethereum [ETH].

The sharp price adjustments led to a wave of liquidations, particularly affecting short positions.

As indicators such as the Fear and Greed Index approach extreme levels, analysts are preparing for further potential liquidations.

Market liquidations surpass $280 million

On November 6, when Bitcoin reached an all-time high of $76,000, total market liquidations soared over $600 million.

This figure comprised nearly $427 million in short position liquidations—the highest seen in over six months—while long positions accounted for approximately $184 million.

Most recently on November 9, overall market liquidations remained elevated at over $280 million.

Data from Coinglass indicates that shorts were predominantly affected with about $189 million constituting the liquidation volume. (()%)matches“, ” “===”—–“))|—+==equals(?, “+”””, ”)–**REMOVAL(o) **83– >>'”=–>>”,7395,+ ++85**[—–>:_](MATH_STOPPPO@@-STR##)||”>” @a$source+=—_formal_element-parts “;

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This xxxin pattern suggests that short sellers may face considerable losses if they persist in opposing the upward trajectory of significant crypto assets.

The current Bitcoin price has increased by more than 3% within the last day and is now trading just below $80,000—the latest record high.
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