$371M in crypto shorts wiped out as Bitcoin hits $76k: Is $80K the next stop?

Quick Summary:

Chasing quick gains without a strategy could leave traders vulnerable if the market shifts, threatening the $80K rally.

In the past three days alone, $26 billion in long positions were opened as speculators bet on a potential bull rally, driven by optimism surrounding Trump’s victory.

Conversely, with strong support, more long positions will likely join, leaving crypto shorts increasingly vulnerable.

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Article Details

Author / Journalist: Ripley G

Category: Crypto

Markets: United States

Topics: News BTC Trading View News 1 Bitcoin Trading View Social

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 21:00:38 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: ambcrypto.com

Language: English

Article Length: 588 words

Reading Time: 4 minutes read

Sentences: 29 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © AMBCrypto

News ID: 23473337

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About AMBCrypto

Main Topics: Crypto

Official Website: ambcrypto.com

Update Frequency: 28 posts per day

Year Established: 2018

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #103

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