BitMex shorts get rekt to the tune of $88M as BTC soars to new 2019 highs

22 Jun, 2019
by Ryan Boltman
Analysis
BitMex shorts get rekt to the tune of $88M as BTC soars to new 2019 highs

BitMex shorts saw plenty of bloodshed as Bitcoin climbed past $10,000, and continues to liquidate shorts as the price climbs to new 2019 highs. 

BitMex saw a massive liquidation on shorts totalling $63.4 million as Bitcoin burst past $10,000 early Saturday morning, and saw an additional $23.65 million in shorts being liquidated following Bitcoin seeing further bullish momentum to nearly $11,000

Currently both BTC longs and shorts on Bitmex are increasing, with shorts currently sitting at 28.8k and longs sitting at 25.1k

Shorts are most likely to pick up steam if BTC settles down at these levels and momentum could push bullish once again, although shorts haven't had a good 2019 as Bitcoin has soared upwards since January. 

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