Bitcoin has been one of the best performers in the cryptocurrency market since BlackRock filed with the SEC to launch a BTC Spot ETF in the United States last weekend.
Shortly after the announcement, BTC rose from around $25,000 to almost $26,500. It staged a massive rally on June 20, surging to nearly $28,800.
Logically, the six-week high led to a massive liquidation. Over the past 24 hours, this figure has surpassed $155 million, with $122 million (78% of that portion) liquidated by short traders, Coinglass revealed.
Bitcoin transactions accounted for more than $70 million of the total share, while Ethereum added another $25 million.