Bitcoin’s surge to a record-breaking $75,000 has led to staggering losses for two unidentified traders on Binance who had bet against its price rising.

According to Coinglass data, these traders’ positions were liquidated for $74.98 million and $36.48 million in the early hours of Nov. 6. These two liquidations alone account for about 30% of the $373.98 million in total losses short traders faced over the past 24 hours across all major crypto exchanges tracked by the data platform.

Bitcoin Shorts Traders (Source: Coinglass)

Crypto community members speculate that the liquidated positions may belong to a crypto whale or a major trading firm.

On Nov. 6, Bitcoin reached its new all-time high of $75,361 following Donald Trump’s victory in the presidential election. This news triggered a broad market rally, lifting several digital assets by double digits.

The post 2 crypto short traders hit by $100 million loss as Bitcoin reached historic $75K high appeared first on CryptoSlate.