CandleFocus Crypto shorters bleed heavy amid “Extreme Greed” sentiments
2024-11-12
Author: Content Editor
Bitcoin's bull run has led to significant losses for short sellers, as the cryptocurrency surged over 10% to breach the $89,000 price level. The Fear and Greed index is currently showing "Extreme Greed," indicating positive sentiment in the market. The global crypto market cap has reached $3 trillion, with a 24-hour trading volume of $314 billion. Bitcoin's dominance is increasing, while altcoins like Dogecoin and Ethereum have seen substantial gains in the last 7 days. Over 173,000 traders were liquidated in the past 24 hours, leading to $700 million in losses. Short positions make up 62% of the liquidations, suggesting traders were hoping for a market correction. Bitcoin's price has increased by 43% in the last 30 days, and it is trading at around $89,149. Dogecoin has soared by 48% in the last 24 hours, reaching $0.412, with speculation of a $1 price target. Elon Musk's involvement and calls for a Department of Government Efficiency have fueled Dogecoin's rally.
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