June 21 (Cointime) - Bitcoin has experienced a significant recovery, reaching almost $29,000 and resulting in around $155 million in liquidations, with short positions making up the majority. The cryptocurrency has been performing well since BlackRock filed to introduce a BTC Spot ETF in the US.

The recent rally saw massive liquidations, with short traders responsible for 78% of the $155 million. Bitcoin trades accounted for over $70 million of the total share, while Ethereum added another $25 million. Currently, BTC is hovering around $28,700, with its dominance against alternative coins at a two-year high above 50%.