Bitcoin (
Hedge fund Moskovski Capital’s CEO, Lex Moskovski, tweeted an image on Jan. 11 showing $86 million worth of Bitcoin shorts were “getting smoked royally.”
Shorts are getting smoked royally.
$86M in the last 4h. pic.twitter.com/hNPwn4C53M
— Lex Moskovski (@mskvsk) January 11, 2023
BTC’s price fell nearly 65% over 2022. The wider crypto market also faced headwinds resulting from numerous bankruptcies and collapses in the space in the same year including crypto exchange FTX, the second-largest exchange at the time of its bankruptcy.
It seems that #Bitcoin likes to remind us that it doesn’t give a shit about exchanges, investor letters, open letters, and ponzi schemes: pic.twitter.com/OfmmdWeUvz
— Andrew (@AP_Abacus) January 12, 2023
On Jan. 11, FTX said it recovered $5 billion in cash and cryptocurrencies which it may sell in order to repay its creditors
