Bitcoin Shorts Worth $280 Million Liquidated With 6x Leverage Amid Potential Short Squeeze

Over the past 24 hours, Bitcoin short positions valued at approximately $280 million have been liquidated, indicating a strong upward movement in the cryptocurrency's price. Earlier reports noted that two wallets, likely controlled by the same entity, had shorted Bitcoin with six times leverage at prices around $92,469 and $92,665, with position sizes totaling $74.5 million and liquidation prices set above $107,000. The rapid liquidation of these short positions suggests a potential short squeeze and a shift in momentum favoring Bitcoin bulls.

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