Short sellers face market's wrath as $700M gets liquidated in minutes

More than $560 million in crypto positions—mostly shorts—were liquidated in just one hour, with Bitcoin alone accounting for $425 million. A textbook short squeeze is unfolding as BTC rockets past $116,000, forcing bearish traders to the exits. source: https://www.thestreet.com/crypto/markets/over-560m-in-shorts-wiped-out-in-one-hour-as-bitcoin-skyrockets