$1.6 billion liquidated after Bitcoin briefly falls under $54,000

2021-3-24 14:38

Bitcoin fell to under $54,000 in the morning hours amidst a broader sell-off in the crypto market. The asset later recovered slightly and traded over $54,700 at press time.

Bitcoin….gone

Data from markets tool Bybt showed over $1.6 billion worth of crypto positions were ‘liquidated’ as a result of the price plunge, with $953 million worth of Bitcoin positions and $255 million worth of Ethereum positions erased in the price carnage.

234,825 traders were liquidated for a total of $1.62 billion over the past 24 hours

Chart: @bybt_com pic.twitter.com/brbUaQ0PZy

— Bloqport (@Bloqport) March 23, 2021

Traders borrow money from exchanges (a process called margin trading) to place bigger bets on their directional positions. The exchanges charge fees in return and automatically close out positions if the market moves against the direction that the trader placed his trade, in a process known as “liquidation.”

Over 234,000 traders were liquidated this morning, Bybt showed, with the single largest liquidation order coming from crypto exchange Huobi—a Bitcoin position worth over $10 million. Bitfinex saw the biggest liquidations with over $747 million in positions liquidated.

The market has since steadied. As the below image shows, Bitcoin is currently sitting on support after bouncing from the $54,000 level. The RSI indicator shows the asset is currently “oversold,” meaning the downward price action could be overextended.

Bitcoin fell several thousand dollars today but has since recovered. Image: TradingView What does on-chain data say?

On-chain data from analytics tool IntoTheBlock show a “mostly bearish” sign for the asset, with three metrics flashing a “red” sign and just two showing a “green” signal. Bitcoin’s net network growth, a tool that calculates momentum, shows bearish growth at -0.46% alongside the falling “large money transactions” at -0.76%.

Accumulation metrics remain “neutral,” meaning large holders are either dumping their Bitcoin or hoarding more of the asset depending on the entry/exit strategy. Over $11 billion have, in addition, left crypto exchanges in the past week while $12 billion has flowed in.

Meanwhile, there could be a further drop ahead. Rafael Schultze-Kraft, the co-founder of markets tool Glassnode, said he wouldn’t be surprised if the market were to dip further.

“Not much Bitcoin realized between here and $51k. Would not be surprised if we dipped a bit more. Strongest on-chain support currently at $47,400,” he tweeted.

Not much #Bitcoin realized between here and $51k. Would not be surprised if we dipped a bit more.

Strongest on-chain support currently at $47,400.https://t.co/3GFPTQPp6F pic.twitter.com/NLBQvEIGfB

— Rafael Schultze-Kraft (@n3ocortex) March 22, 2021

Bitcoin investors are arguably not going to like that.

The post $1.6 billion liquidated after Bitcoin briefly falls under $54,000 appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67140.3 (-0.02%)
Объем 24H $29.808b
Изменеия 24h: -2.20 %, 7d: -1.80 %
Cегодня L: $66767.98 - H: $68823.97
Капитализация $1323.068b Rank 1
Цена в час новости $ 54412.35 (23.39%)

under bitcoin billion briefly liquidated falls market

Источник: cryptoslate.com

under bitcoin → Результатов: 126


Bitcoin Plunge Under $28,000 Only Temporary? This Metric Suggests So

Bitcoin has now plunged under the $28,000 level, but the data of an on-chain indicator may suggest that this drop could only be temporary. Bitcoin Short-Term Holder SOPR Has Dropped Just Under The 1 Level As pointed out by an analyst in a CryptoQuant post, the current values of the metric have generally served as ideal buying opportunities during rallies in the past.

2023-5-9 15:30


With Bitcoin under $45k & $1B worth of BTC entering exchanges, is panic selling underway

Crypto investors exploring the market might feel that their once lush, green campsite has been taken over by bloodthirsty bears. With Bitcoin back under $45,000, here's what you need to know about othThe post With Bitcoin under $45k & $1B worth of BTC entering exchanges, is panic selling underway appeared first on AMBCrypto.

2022-4-9 02:30


Фото:

As Court Reconvenes for QuadrigaCX, Questions Surround Empty Cold Wallets

As QuadrigaCX’s legal counsel descends on the courtroom in Halifax, Nova Scotia, for another round of legal proceedings, the court monitor’s third report on QuadrigaCX’s finances — specifically its revelation that the exchange’s cold wallets are empty — lays out some hopeful avenues for fund recovery — and some frustrating dead ends.

2019-3-5 20:20


Фото:

Coinbase Buckles Under Pressure, Fires Controversial Executives of Recently Acquired Neutrino

The PR nightmare triggered by Coinbase’s acquisition of a firm with spyware ties has pushed the crypto exchange into damage-control mode. It all started when Coinbase announced the acquisition of Neutrino, a blockchain analytics firm whose executives were previously hand in glove with repressive world governments in suppressing voices of dissent.

2019-3-5 16:29


Bitcoin SV (BSV) Long-term Price Analysis – March 2

BSV/USD market slight downward movement appears to be imminent. A decent long entry may be found under the two SMAs while traders need to exercise patience. BSV/USD Long-term Trend – Ranging Distribution territories: $90, $100, $110 Accumulation territories: $40, $30, $20 Between February 24 and 27, BSV/USD trade witnessed notable both decline and uprise during […]

2019-3-2 12:03


Bitcoin SV (BSV) Long-term Price Analysis – February 23

BSV/USD market still sees its major range movements under downward pressure mode. A strong price action needs to be awaited to effect a change in the current market trend. BSV/USD Long-term Trend – Ranging Distribution territories: $90, $100, $110 Accumulation territories: $40, $30, $20 Trade between the USD and BSV still features within the range […]

2019-2-23 12:04


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

How High Can Bitcoin Go Before A Top? Analyst Chimes In

An analyst has explained how the Bitcoin rally could still have room to run before hitting a top based on the data of this indicator. Bitcoin Macro Oscillator Isn’t At Historical Top Zone Yet In a new post on X, analyst Willy Woo has discussed the recent trend developing in the Bitcoin Macro Oscillator (BMO).

Halving Woes Already Over? Bitcoin Hashrate Smashes All-Time High

On-chain data shows the Bitcoin mining hashrate has sharply rebounded from its post-Halving lows and has achieved a new all-time high (ATH). 7-Day Average Bitcoin Mining Hashrate Has Just Set A New ATH The Bitcoin network runs on a consensus mechanism known as the “proof-of-work” (PoW).

Bollinger Bands Inventor Foresees Bitcoin Pullback: Key Levels To Watch

Renowned financial analyst John Bollinger has recently issued a caution regarding the potential for a Bitcoin pullback. After BTC price surged from below $66,000 to almost $72,000 at the beginning of the week, Bollinger, the creator of the widely utilized Bollinger Bands indicator, pointed to specific features in the Bitcoin price chart that suggest a consolidation or pullback could be imminent, though he clarified that his perspective was not bearish on a longer term.

Perennial Bitcoin Accumulators Bought Big Ahead Of Rally, Data Shows

On-chain data shows that Bitcoin addresses with zero sales histories participated in a big accumulation before this recovery run started. Bitcoin Inflows To Accumulation Addresses Sharply Spiked Recently As explained by an analyst in a CryptoQuant Quicktake post, the accumulation addresses on the Bitcoin network have shown some significant inflow activity recently.

Bitcoin “Profit-Taking Has Completed,” Top Analyst Reveals

An analyst has explained how profit-taking looks to have finished for Bitcoin in what has been a “very healthy reset” for the market. Bitcoin SOPR Suggests Profit-Taking From Investors Has Cooled Off In a new post on X, analyst Willy Woo has discussed about the latest trend occurring in the Bitcoin Spent Output Profit Ratio (SOPR).

4 Key Reasons Why The Bitcoin Bull Run Is Far From Over

In an analysis shared via X, renowned crypto analyst Ted (@tedtalksmacro) has provided compelling evidence to support his assertion that the current Bitcoin bull run is far from over. Ted’s insights are based on four critical indicators related to traditional finance and crypto liquidity, each pointing to sustained growth in the near future.

Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns

On-chain data shows the Bitcoin Network Value to Transactions (NVT) Golden Cross still has a high value, a sign that may be bearish for BTC. Bitcoin NVT Golden Cross Is Still Near Historical Top Zone In a CryptoQuant Quicktake post, an analyst discussed the recent trend in the NVT Golden Cross for BTC and its implications for the price.