Traders are betting against Bitcoin and crypto markets are closing in as the price of BTC rises above $80,000.
In the last 24 hours, $375.02 million worth of crypto bets were settled, according to market data tracker. CoinGlass.
Most of the release hit the market with a low, coming in at $304.96 million.
Bitcoin led the charge with $160.8 million liquidated, almost all from minority positions. Ethereum followed at $84.7 million, which is also driven by shorts.
More than 98,000 merchants were evicted.
Bitcoin is now trading at $80,416, up nearly 3% in the past 24 hours.
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