$71M Crypto Shorts Liquidated In 1 Hour On Monday As Bitcoin Surges

On-chain data shows that crypto traders with open short positions saw $71 million worth of liquidations in a single hour on Monday (ET hours.) What Happened: According to data from CoinGlass, $71.13 million shorts were liquidated over a one-hour period as Bitcoin (CRYPTO: BTC) surged to $31,177 during early Asian hours on Tuesday.