The upward price trajectory of bitcoin over the past 24 hours has resulted in nearly $40 million worth of bitcoin short liquidations.

There have been over $164 million in liquidations over the past 24 hours in the cryptocurrency market. Of these liquidations, the vast majority, around $105 million, were short positions. Bitcoin short positions took the largest share of the damage, with almost $40 million in liquidations in the past 24 hours, according to Coinglass data. 

The wipeout of short position came as bitcoin broke above the $67,000 mark. The largest digital asset by market capitalization increased by over 2% in the past 24 hours and was changing hands for $67,087 at 8:56 a.m. ET, according to The Block's Price Page.