Bitcoin price rises to $ 29,000 , leading to $ 122 million liquidation of short traders

Bitcoin has been one of the best performers in the cryptocurrency market since BlackRock applied to the SEC to launch the BTC Spot ETF in the U.S. late last week. Shortly after the announcement, BTC rose from around $25,000 to nearly $26,500. It made a massive rally on June 20, soaring to nearly $28,800 (according to Bitget data).

Logically, the six-week high led to a massive liquidation and Coinglass revealed that in the last 24 hours, the figure has exceeded $155 million, of which short traders were liquidated $122 million (78% of the segment). Bitcoin trading accounted for more than $ 70 million of the total share, while Ether added another $ 25 million.