Bitcoin and crypto money world had an extremely exciting day today. Tesla announced that it has invested $1.5 billion in Bitcoin and that the company plans to accept the asset as payment. Bitcoin registered a new ATH after this statement.
Will Benefit the World
Reactions to this have been diverse: MicroStrategy CEO Michael Saylor stated that Elon Musk’s decision will benefit the entire world. Members of the cryptocurrency community expected Bitcoin to reach $45,000 in the short term.
At the time of writing, BTC was trading at $43,974 and the price is up 0.3% in the past hour. Even as the asset reacted to the news, traders took advantage of the current market conditions.
57 Million Dollars Short Position
OKEx saw Bitcoin short positions liquidated at the cost of 57 million dollars on its platform.
$57 million shorts liquidated on OKEx. Oops.#Bitcoinhttps://t.co/AGaqdesweX pic.twitter.com/gSOM3pA5KM
— Rafael Schultze-Kraft (@n3ocortex) February 8, 2021
Just as a few users on Twitter, Bitcoin was bullish They emphasized that they will stay short during the run. Others sympathized with Elon Musk, who said he hadn’t given them enough time to think about the market and change course.
Some members of the crypto community took the current developments from another perspective and wanted to “encourage short situations”. “They need to close their positions,” one user said, which means the bears need to buy the asset.
Regarding other exchanges, the total liquidation on BitMEX in the last 24 hours exceeded $57 million at the time of writing, while short traders liquidated over $52.1 million.