Bitcoin liquidates $23M in shorts as BTC price tags new September high
Bitcoin speculators get burned as BTC price action delivers an overnight spike, only to reverse direction and give back all its gains. Bitcoin (BTC) extended volatility into the Sep. 8 Wall Street open as a classic “ short squeeze” sparked new September highs. BTC/USD 1-hour chart. Source: TradingView Bitcoin offers a round trip to $24,400 Data from Cointelegraph Markets Pro and TradingView showed BTC price movements liquidating short s and longs alike. Bitcoin had seen upside momentum the day prior, this culminating in a trip above $26,400 after the daily close. A subsequent comedown nonetheless took BTC/USD full circle, and the pair was back under the $26,000 mark at the time of writing. Welp -- lets take out the lows again then eh? pic.twitter.com/EVeXRnuwJ6 — Jelle (@CryptoJelleNL) September 8, 2023 The result was punishment for late traders chasing the market up and down. According to data from monitoring resource CoinGlass, short liquidations totaled $23.5 million for S...