Bitcoin’s Bull Run Cripples Short Stock Sellers, Drains $2.6B From Their Pockets
In a stunning twist of fate, Bitcoin’s bull run has led to a $2.6 billion blow for crypto short sellers in less than three months, as reported by financial data firm S3 Partners. What Happened: Decrypt reported that Bitcoin’s value has escalated by 75% since September 11, rocketing from a three-month low of $25,152 to a high of $43,924. This unexpected surge has caught short sellers by surprise as crypto stocks have trailed a similar path. Crypto stocks such as Coinbase and MicroStrategy have mirrored the broader crypto market’s performance, experiencing significant growth thanks to Bitcoin’s …