Crypto: $1.12B Short liquidations rekt bearish outlook, Ethereum rallies
Following a major slump in the market, the crypto-verse witnessed an array of assets headed toward recovery. While Bitcoin [BTC] reclaimed the $20K zone, Ethereum [ ETH ] was seen pocketing significant gains. Amidst all of this, it was brought to light that there was over $1.12 billion in liquidations on mostly short trades . It should be noted that over the last 24 hours 156,040 traders were liquidated. Bitcoin and Ethereum were leading the liquidation with a whopping $550.13 million and $476.06 million. Cardano [ADA] and Ethereum Classic [ETC] took over the next two ranks with $17.10 million and $7.90 million. Source While these liquidations ticked off a short squeeze , an array of crypto assets recorded prominent surges. Ethereum was clearly leading the market with a 14.15 percent daily surge. Thanks to this, the altcoin rose to a high of $1,535, at press time. Cardano as well as Ethereum Classic weren’t far behind. Both these assets were pocketing double-digit gai...