Bitcoin [BTC] shorts: $30 million in shorts closed on Bitfinex; exchange records 20% drop

2019-4-9 00:30

Bitcoin [BTC], the first and largest cryptocurrency in the market, has been in the news since it breached the $5,000 mark. This breach contributed to several other coins gaining momentum in the market, with many rising by double-digits. Notably, Bitcoin continued to move upwards, with the 24-hour difference still in green.

Interestingly, the unforeseen rise of the coin had a negative effect on short traders as several positions were liquidated in a short span. According to reports, the $5,000 breach resulted in the liquidation of over $400 million shorts on BitMEX, a Bitcoin Mercantile Exchange. According to a post on Reddit, around $30 million in shorts were closed on Bitfinex, a leading cryptocurrency exchange platform, a 27% drop approximately.

Source: TradingView

Notably, the drop was the lowest of Bitcoin shorts for over a year, with March 2018 recording the same level as the current one.

Richard Heart, a Twitter user, commented,

“[…] someone closed 5k #Bitcoin of shorts at $5,255 without hitting the order book (closed into his own account.) That’s $26,275,000 of shorts you can’t squeeze anymore.”

Short sellers, contrary to long sellers, make a profit by borrowing funds when the Bitcoin market is following a bullish trend, following which the assets are sold in the market. These assets are then recovered when the Bitcoin market follows a bearish trend. Contrarily, long sellers are those that profit by selling their assets when the market is following a bullish pattern and buy when the market is following a bearish market.

Zatline, a Redditor, said,

“If leveraged shorts are low meaning nobody profits if prices crash thats usually when matkets tend to crash .. this is more bearish than bullish”

The post Bitcoin [BTC] shorts: $30 million in shorts closed on Bitfinex; exchange records 20% drop appeared first on AMBCrypto.

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shorts bitcoin btc drop market closed records

Источник: ambcrypto.com

shorts bitcoin → Результатов: 39


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Крейг Райт, старший научный сотрудник компании nChain, обвинил криптобиржу Poloniex в нарушении закона, поскольку та открыла торги Bitcoin Cash ABC и Bitcoin Cash SV еще до хардфорка этой криптовалюты.

2018-11-12 14:11


Bitcoin (BTC) Price Technical Analysis: Sentiment Shift as Shorts Exit Positions Boosting Bitcoin Prices

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2018-8-27 05:13


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Bitcoin Price Analysis: High Shorts Count Could Signal Price Hike

Once again, bitcoin finds itself precariously perched on the bottom of its macro trading range (TR). After a strong round of selling over the course of two weeks plunged the price back to the $6,000s, bitcoin began consolidating for several weeks at the bottom of the TR:Figure 1: BTC-USD, 1-Day Candles, Macro TRAs shown in the figure above, the market has interacted several times at the current price range and it has been a source of three major bullish rallies.

2018-8-25 00:42


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Did Tether Trigger a Short Squeeze or a Dead Cat Bounce? (Bitcoin Price Analysis)

This time yesterday it appeared that all was lost, as Bitcoin price slipped within $100 of the current 2018 low. Then something unexpected occurred. Perhaps shorts got squeezed out of their loftily precarious positions or was it Tether’s newly minted $130 million USDT that saved the day? Bitcoin Price Market Overview Bitcoin  spent the better part of the day fighting off bears and the cryptocurrency managed to post an impressive 10% gain as it briefly Read More The post Did Tether Trigger a Short Squeeze or a Dead Cat Bounce? (Bitcoin Price Analysis) appeared first on Bitcoinist.com.

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