Crypto Market Short Positions Liquidate, Triggering $160M Price Surge

A recent surge in crypto prices has triggered the liquidation of over $160 million worth of short positions across various assets, including Bitcoin (BTC), Ethereum (ETH), and several altcoins. This event is indicative of heightened market volatility and shifts in trader sentiment. Traders have been forced to exit bearish positions rapidly due to a significant price increase. While major exchanges remain silent, analysts point to whale activity as potentially influencing the market movements. Reports suggest that substantial long positions were placed on assets like BTC, ETH, and SOL, further indicating a shift towards bullish trends.