Crypto Exchanges Liquidate Almost $500M in Short Positions

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Bitcoin has been rising since the middle of last week. Over the past week, its capitalization has increased by more than 23%, currently standing at $410.615 billion.

The price of the crypto has comfortably sat on the $21K level against the background of the growth of digital currencies in the futures market, a large-scale liquidation of positions took place. Cryptocurrency exchanges have closed nearly $500 million worth of short-term positions in the past four days.

According to data from Coinalyze, the market has experienced the largest liquidation since October last year. For example, on January 13, OKX, Binance and Huobi canceled $256 million, $125 million and $42 million short positions, respectively.

According to the company analysts, all leading altcoins have shown explosive growth.