Bitcoin Back Above $80,000 as $468 Million of Shorts Get Wiped Out: Can BTC Clear Its Pre-Hack High?
Image: Coinspeaker
Bitcoin news turned to a short squeeze on Wednesday, November 4, as BTC closed above $80,000 for the first time since the October 29 Binance hack. A jump at the US stock market open forced traders to close $468.5 million of short bets. Bitcoin trades at $80,550 , up 2.7% in 24 hours. ETH USD price did better, rising 4.4% to $2,427. The move came in two steps. BTC went from $78,321 at 14:30 UTC, when New York opened, to $79,559 within 15 minutes, then pushed to $81,196 by 15:15 UTC. Earlier the same day, it had dropped to $75,736, so Wednesday’s range was more than 7%. Most of the traders caught out were betting on a fall.
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