After a wild run all the way to above $23,500 levels, Bitcoin (BTC) registered a strong pullback as short order pile up heavily. In less than 15 minutes, Bitcoin (BTC) has lost $1000 of its price from its new all-time high of $23,586. At press time, Bitcoin is trading at $22,441 levels with a market cap of $430 billion. Twitter handle WhaleTrades has released multiple updates that show several million-dollars worth of Bitcoin (BTC) have been short recently.

There has been an overwhelming number of short positions while a few long positions have also build up during this recent rally. Soon after, Bitcoin moves past $20,000 there have been huge liquidations in the last 24 hours. It looks like whales have started liquidating their holdings as Bitcoin profit-booking sweeps in. Over the last 24 hours, the Bitcoin price surged more than 20% going all the way up to $23,500. But during the same time, nearly 78,156 traders have liquidated their holdings.