A $130 Million Shorts Liquidation May Have Supercharged Bitcoin Price to $9,000

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By CCN: On May 27, the bitcoin price surged from $8,000 to $8,939 on major exchanges such as Bitstamp and Coinbase, achieving a new high for 2019. Key catalysts behind the abrupt increase in the bitcoin price within a short time frame remain unclear; some have suggested the overall improvement in sentiment around the crypto market and an increase in demand from retail investors. One of the main factors supporting the 11 percent rally of bitcoin may have been the liquidation of hundreds of millions of dollars worth of short contracts on BitMEX, the most widely utilized crypto margin trading

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