Bitcoin Short Sellers Caught Off Guard in New White House Move
Over $530 million in Bitcoin short positions were liquidated following the White House's nomination of pro-Bitcoin Kevin Warsh as Federal Reserve Chairman.Summary
The cryptocurrency market experienced a significant rally, with Bitcoin surging 9% to reclaim $73,000, after the White House nominated Kevin Warsh, a former Federal Reserve Governor considered sympathetic to digital assets, as the new Fed Chairman. This macro catalyst triggered the forced liquidation of over $530 million in Bitcoin short positions across derivatives markets, as rising prices squeezed out traders betting against BTC and ETH. The market reaction showed a clear divergence from traditional safe havens, as Bitcoin gained nearly double digits while Gold fell 3%, suggesting a capital rotation into digital assets. The event highlights how market positioning and macro policy expectations are currently driving Bitcoin's momentum.
(Source：BeInCrypto)