Nearly $1 Billion Bitcoin (BTC) Shorts Liquidated Today Amid Amazon (AMZN) Rumors
- Wall Street closes rollercoaster week sharply lower
- Invesco (IVZ) Reportedly in Talks to Merge With State Street's (STT) Asset Management Business, Citi Sees More Cons than Pros
- FDA Votes "No" on Pfizer (PFE) Booster for 16+ Age Group, 2 Yes 16 No
- Jefferies Raises Price Targets on Alphabet (GOOGL) and Facebook (FB) as They Are Still Inexpensive Relative to Growth, Reiterates Snap (SNAP) as a Best Growth Idea
- Tesla (TSLA) Could Deliver 900K EV Units This Year and 1.3M in 2022 - Wedbush
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Bitcoin (BTC) price has surged over 10% today on huge short-covering. Large short interest has yielded a short-squeeze that was further boosted by speculation that the e-commerce titan Amazon (NASDAQ: AMZN) may enter the cryptocurrency space.
The company posted a job post looking for an executive to develop the company’s digital currency and blockchain strategy. This prompted industry experts to speculate on whether Amazon plans to adopt Bitcoin as a cryptocurrency payment.
In the meantime, Bitcoin price soared to near trade above the $40,000 mark again. On the course to $40k, over $950 million of crypto shorts were liquidated today, according to Bybt.com
“The extent of the jump was probably driven by over-leveraged shorts,” commented Vijay Ayyar, head of Asia Pacific at crypto exchange Luno in Singapore.
As expected, Etherem (ETH) and other top cryptocurrencies have followed BTC in marching higher.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- 7 Things to Know About the Upcoming Argo Blockchain (ARBK) IPO
- Coinbase (COIN) Applies to Trade Bitcoin, Crypto Futures
- Shiba Inu (SHIB) is now available on Coinbase (COIN)
Create E-mail Alert Related CategoriesCryptocurrency, Rumors, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!