Traders betting on Bitcoin and cryptocurrencies are seeing a series of liquidations as Iran declares the Strait of Hormuz fully open to commercial shipping.
In the past 24 hours, a whopping $815.42 million worth of leveraged cryptocurrency bets were liquidated, according to market data tracker Queen Glass.
The vast majority of liquidations hit short traders, amounting to $661.93 million.
Markets are broadly higher as President Trump signals strong progress toward reaching a historic deal with Iran, reducing fears of energy supply shocks and igniting new appetite for risk.
Bitcoin rose from a 24-hour low of $74,695 to $78,232, and was down at $77,537 at press time.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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