Nearly $1 Billion Bitcoin (BTC) Shorts Liquidated Today Amid Amazon (AMZN) Rumors

July 26, 2021 9:37 AM EDT

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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.



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