Bitcoin price jumps above $28K after 1.5K BTC shorts 'blown out'
Bitcoin bears get a sudden roasting as short squeeze sends BTC price action to levels last seen before the Binance regulatory debacle. Bitcoin (BTC) headed back to $28,000 on March 29 as a classic short squeeze took the market to five-day highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC liquidations mount as Bitcoin reverses Binance dip Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $28,159 on Bitstamp. The abrupt uptick came courtesy of exchanges , where a band of shorts were “blown out” to remove resistance and allow higher levels to return. As noted by analyst Skew, these short s were left over from Bitcoin’s prior moves, and were worth around 1,500 BTC. “Looks like the previous bounce was shorted heavily & those shorts just got blown out,” part of accompanying commentary stated. Bitcoin exchange data summary chart. Source: Skew/ Twitter According to analytics resource Coinglass, total BTC short liquidations for March 29 stood a...