Bitcoin bolted past $23,750 for the first time in 13 days after surging more than 7% over the past 24 hours, likely the result of the type of short squeeze that historically has sent prices higher.
Data from crypto data provider Coinglass showed that traders who bet on price shifts liquidated some $40 million of bitcoin over the past 24 hours, from which about $37 million were in short positions.
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