Nearly $1 Billion Bitcoin (BTC) Shorts Liquidated Today Amid Amazon (AMZN) Rumors
Get Alerts AMZN Hot Sheet
Join SI Premium – FREE
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
- Global stock allocation at a 2-year high, BofA's survey shows
- Bitcoin has already surpassed gold in investor portfolio allocation - JPMorgan
- Prosecutors Urge Judge to Sentence Sam Bankman-fried to 40-50 Years for FTX Fraud - Court Filing
Create E-mail Alert Related Categories
Cryptocurrency, Rumors, Trader TalkRelated Entities
BitcoinSign 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!