Over $200 million in shorts (Bets on price increases) have liquidated in the last 24 hours as the major cryptocurrencies rose. Other coins such as XRP and solana have gained as much as 20%. The liquidation adds to his liquidation of over $150 million earlier this week. Such levels have not been seen since October, according to Coinglass data. However, some analysts believe the rise shows indecision among crypto traders as BTC and ETH trade in a consolidation pattern, according to QCP Capital. Consolidation refers to the movement of an asset between well-defined trade-level patterns, indicating uncertainty about which direction it will collapse.
