#Bitcoin has surged above $65,000, triggering the liquidation of over $34 million in short positions within just one hour.

#Bitcoin experienced a significant price increase. Many traders had expected the price to fall and opened short positions, but instead the market moved sharply upward.

A short position is a trade where an investor borrows #Bitcoin and sells it, hoping to buy it back later at a lower price. For example:

A trader shorts #Bitcoin at $64,000.

They expect the price to fall to $62,000.

If it does, they buy it back at $62,000, return the borrowed #Bitcoin.

BTC

62,531.12

-2.27%