The US Needs A Digital Dollar To Maintain Its Financial Values,...

20m
zycrypto

The Last Time This Trend Occurred, Bitcoin Rallied To $20,000. It’s Back Again

20m
zycrypto

Don’t ignore what is going on with Ethereum, analyst says as stablecoins erupt

26m
cryptoslate

This financial analyst expects a “very bullish” Bitcoin price in June for 4 key reasons

26m
cryptoslate

Seasoned vs. New Remote Workers |

38m
cryptonewmedia

The Big Four Are Gearing Up to Become Crypto and Blockchain Auditors

38m
cryptonewmedia

IMF Official Wants Private Companies and Central Banks to Jointly Promote Digital Currencies

44m
coinidol

Coinbase to Retroactively Airdrop OmiseGo Tokens to Ethereum Holders

1h
beincrypto

ViaBTC Group Announces Strategic Upgrade to Advance Innovation and Improve Customer Experience

1h
thebitcoinnews

Slack (WORK) Stock Jumped 7%, Price Target Raised to $37 from $32

1h
cryptonewmedia

This Crypto Use Case Has Never Been as “Underrated” Due to Twitter and Trump

1h
newsbtc

Coinbase acquire Tagomi in new announcement

1h
cryptodaily

Innovative Staking Introduced By Tachyon(IPX)

1h
bitcoinist

Kazakhstan to Promote Cryptocurrency Mining Institutionalization Bill

1h
coinidol

PPP changes pass House as small businesses hit first loan deadlines |

2h
cryptonewmedia

Bitcoin Google Interest Mimics $10K Price Run as ‘Halving Hype’ Fades

2h
cryptonewmedia

ASIC Repair Technician Certification Coming to the US

2h
cryptonewmedia

China Adds Cryptocurrency to Inheritable Assets

3h
coinidol

Interview With Nils Thomsen About How Lotto Nation is Revolutionising Online Lotteries With Blockchain

3h
nulltx

Trump on Vote by Mail, Poll Worker PPE, Naturalizations and More |

3h
cryptonewmedia

Top Countries That Tick All the Boxes

3h
cryptonewmedia

Analyst: how the mining capitulation could spark something in BTC

3h
cryptodaily

Can BTC/USD Remain Supported by 50-Hour SMA? Sally Ho's Technical Analysis 30 May 2020 BTC

3h
cryptodaily

Bitcoin Steady at $9.5k as Analyst Predicts Price Breakout Before June

4h
zycrypto

MakerDAO (MKR) Surges Over 41% After Coinbase Pro Support

4h
cryptonewmedia


Crypto Bloodbath: Bitcoin [BTC] Slips to $7.5K; $200 MM Longs Liquidated on BitMEX

coingape

7mon ago

Bitcoin price has dropped by almost 9% followed by the liquidation of 200 MM of shorts on BitMEX. Top 10 coins have also dropped by significant numbers. Furthermore, the crypto market suffered a loss of $16 billion.

Bitcoin regained $8000 level yesterday after ending a short bearish cycle. However, Bitcoin’s price briefly passed $8,300 before tumbling to $7,546. This led the BTC/USD pair to get stuck in a narrow trading corridor. The pair is trading in the range between $7,400 and $8,500.  Bitcoin’s loss also translated into the same for altcoins. Ether has also fallen down by 7.74% to hit $160.  Following the price drop over $200 million shorts were liquidated on BitMEX.

Ripple (XRP) and Bitcoin Cash (BCH) fell down by 6.9% and 8.8%. The overall cryptocurrency market cap has shed a total of $16 billion overnight to hit $205 Bn, with Bitcoin’s share nonetheless still at 66.2%. The third quarter of 2019 saw a shift in BTCs price as it skyrocketed to $13,000 USD in late July before crashing to sub-$7,700 USD level earlier in the month. The bearish reversal in price correlates with the plummeting of the 30-day realized volatility – from 6.82% in late July to 3.01% on Oct 22. The slow movement in BTC’s price has been the case in the past week or so as price moved less than 2% daily in the period.

Analysts and traders have been on the edge trying to determine the next move for BTC/USD pair – will the price move towards the major support level at $6,400 or bust through the $8,300 key resistance to test major resistance at $8,800 USD?

It seems that institutions are not in a dilemma on the price movement as open interest on the long positions of CME BTC futures is on the rise in October. Institutional investment mainly comprises of pension funds, endowments, insurance companies, mutual funds & portfolio/investment managers, etc.

Interestingly, Bakkt volume established an all-time high today trading 296 Bitcoins, making trading progress of 26%.

Will Bitcoin test major support level at $6,400 or break the $8,300 level? Let us know, what you think in the comments below!

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

OKCoin Adds SEPA Payment Gateway; Zero Fee on Deposits & Withdrawals for European Users

Etoro

Trade Now

CryptoRocket

Trade Now

Darb finance

Trade Now

Celsius Network

Visit

Bybit

Trade Now

Bitcoin price has dropped by almost 9% followed by the liquidation of 200 MM of shorts on BitMEX. Top 10 coins have also dropped by significant numbers. Furthermore, the crypto market suffered a loss of $16 billion.

Bitcoin regained $8000 level yesterday after ending a short bearish cycle. However, Bitcoin’s price briefly passed $8,300 before tumbling to $7,546. This led the BTC/USD pair to get stuck in a narrow trading corridor. The pair is trading in the range between $7,400 and $8,500.  Bitcoin’s loss also translated into the same for altcoins. Ether has also fallen down by 7.74% to hit $160.  Following the price drop over $200 million shorts were liquidated on BitMEX.

Ripple (XRP) and Bitcoin Cash (BCH) fell down by 6.9% and 8.8%. The overall cryptocurrency market cap has shed a total of $16 billion overnight to hit $205 Bn, with Bitcoin’s share nonetheless still at 66.2%. The third quarter of 2019 saw a shift in BTCs price as it skyrocketed to $13,000 USD in late July before crashing to sub-$7,700 USD level earlier in the month. The bearish reversal in price correlates with the plummeting of the 30-day realized volatility – from 6.82% in late July to 3.01% on Oct 22. The slow movement in BTC’s price has been the case in the past week or so as price moved less than 2% daily in the period.

Analysts and traders have been on the edge trying to determine the next move for BTC/USD pair – will the price move towards the major support level at $6,400 or bust through the $8,300 key resistance to test major resistance at $8,800 USD?

It seems that institutions are not in a dilemma on the price movement as open interest on the long positions of CME BTC futures is on the rise in October. Institutional investment mainly comprises of pension funds, endowments, insurance companies, mutual funds & portfolio/investment managers, etc.

Interestingly, Bakkt volume established an all-time high today trading 296 Bitcoins, making trading progress of 26%.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments