Since Bitcoin surged to an all-time high on November 6, short sellers of cryptocurrencies and blockchain-related stocks have suffered significant losses, with data analytics firm Ortex revealing that traders shorting MicroStrategy (MSTR.O) lost more than $1.2 billion between November 6 and November 8, and more than $6 billion so far this year.
As of the close of trading on November 8, short sellers of cryptocurrency exchange operators Coinbase Global, crypto mining company Riot Platform, MARA Holdings and Bitfarms had cumulative losses of about $1.2 billion. In addition, investors shorting BlackRock's Bitcoin exchange-traded fund iShares Bitcoin Trust have lost nearly $37 million since November 6. (Reuters)