2021-2-23 05:22 |
Margin traders on Kraken are outraged after a flash-crash triggered wholesale liquidations while the exchange was inaccessible to users.
Similar to Notcoin - TapSwap on Solana Airdrops In 2024
|
| Analogue Notcoin - TapSwap |
Bitcoin is showing resilience despite the slip, but the corrective period might continue for a while before a return to growth, one observer noted.
The rally was broad-based, with SOL and AVAX advancing nearly 10% over the past 24 hours.
In a tumultuous turn of events, the cryptocurrency market has been rattled by a sharp decline in Bitcoin prices. After a sustained period of remarkable gains and record highs, Bitcoin has plunged to a weekly low of $65,000, marking a significant setback for investors.
Bitcoin rose to $64,000 Wednesday before quickly reversed to $59,000, CoinDesk data shows.
The move prompted $73 million in liquidations, during the day predominantly leveraged short positions betting on lower prices.
After failing again at $28,000 resistance over the weekend, bitcoin has retreated to its weakest level since late September.
Bitcoin's bounce amid fears of FTX creditor liquidation might shake out altcoin bears, leading to a sharp rally in recently shorted tokens like solana.