Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
prices crossed the $36,000 mark for the first time since May 2022 on Thursday, extending the largest digital asset's rally.in liquidations occurred in a four-hour period during early Asian trading hours, creating a “short squeeze” that drove prices higher. Shorts refer to bets against price rises in futures trading.
Over $21 million of those shorts were wiped on futures exchange BitMEX, followed by OKX and Binance. This suggests the move could have been driven by market trades based in Asia, where these exchanges enjoy a relatively large user base. Elsewhere, analysts at Bloomberg Intelligence double-downed on expectations of a spot bitcoin exchange-traded fund approval in the U.S., reiterating a “90% chance” of a January launch.
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