1.1 billion in futures shorts liquidated accross the crypto market as Bitcoin rose 5% in 3 minutes to 55k

As you guys just saw there was a HUGE pump just a few minutes ago. This caused a massive amount of shorts to get liquidated across all exchanges.

On the one hand this makes me happy because this took capital and money from the people who keep prices down. On the other hand I feel a little sorry for those who were average persons and had a short position. But at least I hope they learnt the lesson.

Also, usually after a big short liquidation comes a corrections (as we saw from the 42k local high that then dropped to 37k) or the liquidations at 50k, which then pumped to 52k to correct downwards to 40k.

So just beware, do not invest more than you can afford to lose and avoid leverage. Crypto makes some crazy gains anyways.

Hope this helps