Bitcoin’s ($BTC) bull rally is continuously punishing the short sellers. In this respect, the bears have faced a total liquidation of up to $7.88B since February. As per the data from CryptoQuant, this highlights the risks of recurrent shorting around the $80K mark. Thus, the traders placing bets against the strength of $BTC are witnessing consistent liquidations.
Bitcoin Short Sellers Incur $7.88B in Liquidations as Bull Rally Strengthens
The on-chain statistics indicate Bitcoin ($BTC) short sellers have incurred a staggering $7.88B liquidation since February amid the strong upward momentum. In this respect, the aggressive bullish outlook is increasing the vulnerability of the highly leveraged $BTC shorts across the crypto sector. Specifically, the “Bitcoin Trend Pulse” indicator clearly shows that Bitcoin ($BTC) stands firm in the bull mode while hovering around the upper 1.0 range.
Historically, analogous conditions have led to prolonged rallies, as the surges during 2023 and 2021 revealed. Additionally, the bearish phases were comparatively short-lived in comparison with the extended bull cycles. This suggests that the present shot liquidations reflect a wider structural uptrend. Irrespective of the repeated setbacks, Bitcoin ($BTC) bears continue aggressive shorting near the $80K spots. Keeping this in view, as a result of the short piling, prices are rising, while liquidations are pushing forward the upward trend.
Consistent Bear Setbacks Drive Upward Trajectory
When it comes to the 1-day, Bitcoin ($BTC) short positions have lost a cumulative $175M yesterday, without any major catalyst. Additionally, the monthly trajectory presents $608M in liquidation. Before that, a single day resulted in the loss of nearly $737M. Therefore, shorting near $80K is consistently paving the way for liquidations as $BTC keeps challenging bearish narratives. Keeping this in view, amid the continuous market resilience, the market onlookers and traders are closely watching for further catalysts and their contribution to shaping the market direction.
