Bulls Liquidate over 70,000 Short Positions as Bitcoin climbs above $41k

After a slow start to the year, bitcoin bulls are roaring to regain dominance as the token’s price traded in excess of $41,500 earlier today from about $33,000 at the tail end of January. As a result, investors have lost over $170 million in the last 24 hours. The world’s biggest digital currency, bitcoin accounted for nearly six percent of the total losses.

Via: Coinglass

Market sentiment and analyst predictions have predicted an uptrend in the coming weeks. Amongst the world’s biggest cryptocurrencies, Ethereum is up by more than 15% in the last week, while Polkadot rose by 14.94% within the same period. But high throughput blockchain Solana is the best performing asset with 19.19%.

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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