From Investing.com: 2024-11-11 09:30:58

Short sellers of cryptocurrency and blockchain stocks are facing heavy losses as bitcoin surges to record highs, driven by optimism over Trump’s regulatory stance. Traders betting against MicroStrategy lost over $1.2 billion, while combined short-selling losses on Coinbase, Riot Platforms, MARA Holdings, and Bitfarms total about $1.2 billion. Bitcoin hit $82,000 on Monday, up nearly 19% since Nov. 6. Speculators anticipate a friendlier regulatory environment and increased demand for bitcoin. Investors shorting iShares Bitcoin Trust ETF lost close to $37 million. Trump’s support for digital assets and plans to make the US the “crypto capital of the planet” fuel optimism in the market.



Read more at Investing.com: Bitcoin surge triggers billions in losses for crypto short traders after Trump win By Reuters