Bitcoin pump to $63,700 triggers the most short liquidations since late April

Traders betting against bitcoin lost $504 million over 24 hours as it bounced from below $60,000, though a fresh Iran-Israel flare-up pulled prices back on Monday. What to know : Bitcoin’s sharp rebound from last week’s lows triggered about $504 million in losses for short sellers over 24 hours, the largest daily hit since late April. Total crypto liquidations reached roughly $655 million and affected more than 104,000 traders, with bitcoin and ether positions accounting for the bulk of forced closures. After briefly climbing near $63,800 over the weekend and touching $63,700 Monday, bitcoin eased to around $62,900 amid renewed Middle East tensions and ahead of key U.S. inflation data and major IPOs.(Coindesk)