Bitcoin rally triggers over $36 million in shorts liquidations 
Quick Take
December has started on a bullish note for Bitcoin, with the opening price over $38,000 and a high brushing just under the $38,400 mark.
This price surge has had a significant impact on the digital asset market. In the past 24 hours, approximately $36.88 million worth of short positions have been liquidated. According to Coinglass, Binance shouldered the brunt of these liquidations, accounting for just $15.62 million in liquidated shorts.
Meanwhile, roughly $500 million of liquidation leverage is sitting between the current price of Bitcoin at $38,300 and $39,000.
Furthermore, this price uptick has sparked a rise in Bitcoin open interest. Open interest represents the total number of outstanding Bitcoin futures or options contracts in circulation at a given time, indicating the amount of capital committed to Bitcoin derivatives. Open interest has seen a 4% rise over the past 24 hours. Consequently, Binance has emerged as the leading exchange in terms of Bitcoin open interest.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
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