A bit over $45 million worth of longs were liquidated. Liquidations occur when an exchange forcefully closes a trader’s leveraged position as a safety mechanism due to a partial or total loss of the trader’s initial margin. This happens primarily in futures trading, which only tracks asset prices, as opposed to spot trading, where traders own the actual assets. Source link … [Read more...] about Short Traders Lose $82M as Bitcoin Bounces to $43K
Bounces
Bitcoin Bounces After Fed Decision, Analysts Expect Sideways Trading
Despite higher losses, however, blockchain data suggests that some investors continue to hold bitcoin. For example, the balance of BTC on exchanges has continued to decline this year, which could mean investors prefer to hold bitcoin in their wallet instead of making it available for sale on the exchange. Source link … [Read more...] about Bitcoin Bounces After Fed Decision, Analysts Expect Sideways Trading
First Mover Asia: Bitcoin Bounces Above $50K Amid Light Weekend Trading, Altcoins Kick Higher
(Edited by James Rubin)Good morning. Here’s what’s happening this morning:Market moves: Bitcoin returned above $50,000 after the S&P 500 rose to a near record high.Technician’s take (Editor’s Note): First Mover Asia replaces the usual Technician’s Take today with CoinDesk’s annual list of the most influential people in cryptocurrency. This year’s group of 50 influencers … [Read more...] about First Mover Asia: Bitcoin Bounces Above $50K Amid Light Weekend Trading, Altcoins Kick Higher
Bitcoin Holds H&S Support; Bounces to $61.4K
Bitcoin looks to regain poise during overnight trade having avoided a short-term bullish-to-bearish trend change with the help of a crucial support level.The top cryptocurrency is trading near $61,400 at press time, representing a 1.4% gain on the day.While prices fell by 4.3% on Tuesday, sellers failed to break the support level near $59,800 and confirm a head-and-shoulders … [Read more...] about Bitcoin Holds H&S Support; Bounces to $61.4K
Traders pile into altcoins after Bitcoin price bounces at a key support
The wider crypto market has a wait-and-see feel to it on Aug. 25 as the price of Bitcoin (BTC) dipped to $47,360 before rebounding off the lower support of the ascending channel to reclaim the $48,000 level. Despite the swift turnaround, analysts are still wary and well-known financial analyst John Bollinger warned investors that it might be a good time to secure some … [Read more...] about Traders pile into altcoins after Bitcoin price bounces at a key support