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Bitcoin tops $72,000 as $3 billion in shorts are liquidated

The rally extended a two-day squeeze and wiped out the most short positions on record, challenging a bearish chart pattern that has held since November.

Reported · Written up by our desk · Bitcoin

Bitcoin pushed above $72,000 on Thursday, extending a two-day squeeze, Decrypt reported.

The move came as $3 billion worth of short positions were liquidated, helping drive the largest short squeeze on record.

Decrypt said the advance also posed the first meaningful test to a bearish chart setup that has been in place since November.

Latest closeBitcoin $72,614.05 ▲4.8%

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