Bitcoin’s Wild Four Hours: New Record of $73K, Tumble to $69K, Rebound to $71K, $360M in Liquidations
Momentum behind bitcoin’s rally has waned so expect a period of consolidation, Matrixport analysts noted.
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Momentum behind bitcoin’s rally has waned so expect a period of consolidation, Matrixport analysts noted.
Crypto markets slid as much as 10% in the past 24 hours, but have quickly been bought up by bulls.
Traders were moving capital from SOL to stablecoins suggesting profit taking, one analyst said in an interview.
Zhu is expected to be released from jail this month for good behavior, Bloomberg reported.
Short traders betting against higher bitcoin (BTC) prices lost some $90 million on Tuesday alone, adding on to the $70 million in short liquidations on Monday.
The move prompted $73 million in liquidations, during the day predominantly leveraged short positions betting on lower prices.
Altcoins futures took a hit Monday as sudden volatility liquidated both longs and shorts, causing unusually high liquidations on some lesser-known tokens.
The SEC delaying decision about spot BTC ETFs could leave the market without a catalyst until early January, halting the crypto rally’s momentum, K33 analysts said this week.
Cryptocurrency derivatives traders endured over $150 million liquidations over the past 24 hours Monday as rapidly surging digital asset prices caught many market participants off-guard.