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Bitcoin’s Rally to $62,000 Triggers $26.65 Million Short Squeeze in 4 Hours

After reaching a low of $56,500 on April 30, bitcoin climbed to a peak of $62,109 by Friday, May 3, in response to the previous downturn. This uptick resulted in the liquidation of $26.65 million in bitcoin short positio...

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Bitcoin’s Rally to $62,000 Triggers $26.65 Million Short Squeeze in 4 Hours
After reaching a low of $56,500 on April 30, bitcoin climbed to a peak of $62,109 by Friday, May 3, in response to the previous downturn. This uptick resulted in the liquidation of $26.65 million in bitcoin short positions within just four hours, and approximately 48,962 traders found their positions liquidated over the last day. […]

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This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.

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