{"id":26521,"date":"2020-07-28T10:27:18","date_gmt":"2020-07-28T07:27:18","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=26521"},"modified":"2025-08-26T14:53:51","modified_gmt":"2025-08-26T11:53:51","slug":"short-liquidations-of-500-million-fuel-bitcoin-rally-to-11000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/short-liquidations-of-500-million-fuel-bitcoin-rally-to-11000\/","title":{"rendered":"Short liquidations of $500 million fuel Bitcoin rally to $11,000"},"content":{"rendered":"<p>Bitcoin price on Tuesday night reached a level not seen since September 6, 2019, at $11,417 (Bitstamp). One of the catalysts for the rally was the mass closing of short positions in Bitcoin derivatives, with total volumes exceeding $500 million.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Over 500,000,000$ <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> shorts liquidated today across derivatives:<\/p>\n<p>Binance: 126 Million<br \/>\nBitmex: 124 Million<br \/>\nHuobi: 102 Million<br \/>\nOKEx: 95 Million<br \/>\nBybit: 52 Million<br \/>\nDeribit: 13 Million<\/p>\n<p>\u2014 CL (@CL207) <a href=\"https:\/\/twitter.com\/CL207\/status\/1287888468954120192?ref_src=twsrc%5Etfw\">July 27, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On Bakkt-regulated Bitcoin futures, a new all-time daily-volume high was recorded. The number of contracts traded stood at 8,619, equivalent to $97.4 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Monday\u2019s Bakkt Bitcoin Monthly Futures:<\/p>\n<p>\ud83d\udcc8 Traded contracts: 8619 ($97.42 million, +236%) (New ATH \ud83d\ude80)<br \/>\n\ud83d\ude80 All time high: 8619 (7\/27\/2020)<br \/>\n\ud83d\udcb0 Open interest: $7.88 million (-1%)<\/p>\n<p>Did I help you by crunching data? Send me some sats: <a href=\"https:\/\/t.co\/TF6sNUwWpO\">https:\/\/t.co\/TF6sNUwWpO<\/a> <a href=\"https:\/\/t.co\/tGic8GlfbY\">pic.twitter.com\/tGic8GlfbY<\/a><\/p>\n<p>\u2014 Bakkt Volume Bot (@BakktBot) <a href=\"https:\/\/twitter.com\/BakktBot\/status\/1287998191212920834?ref_src=twsrc%5Etfw\">July 28, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The price of the leading cryptocurrency rose by 11.1% over the past 24 hours. For the first time since June 1, it crossed the psychological threshold of $10,000, followed by the milestone of $11,000. The rally coincided with a softer dollar against reserve currencies and gold reaching a new all-time high of $1,981 per troy ounce (the previous record was set in September 2011).<\/p>\n<p>Bullish sentiment across the crypto market also extended to altcoins. Ethereum rose to $334, a high not seen since June 2019. The move came amid volumes that doubled. Over the week, the asset rose more than 30%.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">All eyes on <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#Ethereum<\/a>: trading volumes rose +200% as its price soared past $300, hitting a yearly high of $322, with weekly returns at +30.14%, see a detailed market analysis on <a href=\"https:\/\/twitter.com\/KaikoData?ref_src=twsrc%5Etfw\">@KaikoData<\/a>\u2018s latest research factsheet <a href=\"https:\/\/t.co\/DVRE6VJyMi\">https:\/\/t.co\/DVRE6VJyMi<\/a> <a href=\"https:\/\/t.co\/mZmsKdhnf5\">pic.twitter.com\/mZmsKdhnf5<\/a><\/p>\n<p>\u2014 Ambre Soubiran (@ambresoub) <a href=\"https:\/\/twitter.com\/ambresoub\/status\/1287747952790962176?ref_src=twsrc%5Etfw\">July 27, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, ForkLog reported that the market revival has been accompanied by a three-month high inflow of bitcoins onto exchanges.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price on Tuesday night reached a level not seen since September 6, 2019, at $11,417 (Bitstamp). One of the catalysts for the rally was the mass closing of short positions in Bitcoin derivatives, with total volumes exceeding $500 million.<\/p>\n","protected":false},"author":1,"featured_media":26522,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[780,480,1168],"class_list":["post-26521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bakkt","tag-bitcoin-price","tag-crypto-derivatives"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=26521"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26521\/revisions"}],"predecessor-version":[{"id":26523,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26521\/revisions\/26523"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26522"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=26521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=26521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=26521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}