Reported 13 days ago
Short sellers in the cryptocurrency market have faced significant losses since November 6, 2024, when Bitcoin surged to a record high above $82,000. The rise is attributed to optimism over U.S. President-elect Donald Trump's potential favorable regulatory policies. Notably, losses for traders betting against major firms like MicroStrategy and Coinbase have reached over $6 billion this year, as the market anticipates a more favorable environment for digital assets amidst Trump's promises during his campaign.
Source: YAHOO