Bitcoin dips below $33K as shorts spike, trader warns of 'violent' BTC price ...
It may even be boring for traders right now, but Bitcoin is preparing a rare event which will shake up price action definitively, argues trader John Wick. Bitcoin (BTC) fell back below $33,000 support on July 12 as a familiar cocktail of low volumes and mounting shorts pressured price action. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewShorters fail to spark a Bitcoin routData from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it hit local lows of $32,880 on Bitstamp. Just like last week, a build-up of short positions on major exchange Bitfinex cost Bitcoin....
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The entire market capitalization of all 10,800 cryptocurrencies in existence is down 2.8% on Monday as bitcoin has lost over 2.4% during the last 24 hours. Meanwhile, bitcoin shorts are rising again after bitcoin shorts tapped a two-year high on the derivatives exchange Bitfinex on June 25. Bitcoin Shorts Climb Higher Bitcoin (BTC) and digital markets, in general, have seen better days as BTC tapped an all-time high above the $64K handle three months ago but is still down 48.66% since then. Roughly 17 days ago, on Bitfinex, the number of BTC/USD short positions skyrocketed to levels not....
Short selling pressure returns to the market with a trader eyeing a retest of $31,000 as a result of support weakness. Bitcoin (BTC) fell below $33,000 support on July 8 as a trusted trading range risked getting invalidated.BTC/USD 1-minute candle chart (Bitstamp). Source: TradingViewTrader: $31,000 retest next for BTCData from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping into the $32,000 range during trading on Thursday.The move followed an overnight retracement from around $35,000, with Bitcoin failing to crack crucial resistance.With that, Bitcoin risks invalidating....
The latest rally in BTC shorts is similar to what appeared ahead of the Elon Musk-led May 19 market crash. Bitcoin (BTC) bulls should brace for a potential onslaught from bears as the number of margined short positions on Bitfinex jumps by a little over 378%.Known to most by the ticker BTCUSD Shorts, the dataset records the number of bearish positions in the Bitcoin market. In simple terms, traders borrow funds from Bitfinex — their broker — to trade bet on bearish outcomes for the instrument BTC/USD. Meanwhile, the value of opened short positions is measured in BTC.The number of short....
The latest meltdown in BitFinex BTC shorts could follow up with a spike in spot Bitcoin bids, stated one analyst. Bitcoin (BTC) bears should watch out for a potential blow as the number of margined short positions on the Bitfinex exchange crashes by roughly 25%.The dataset dropped to 11,066 BTC as of 12:20 GMT Saturday, compared to 14,897 BTC at the session's open. Meanwhile, the drop came as a part of a bigger downside move that started on July 15. On the day, the total number of margined short positions had reached 17,053 BTC.BTCUSDSHORTS on July 17 plunged as a part of a prevailing....
Veteran trader Peter Brandt has warned that bitcoin’s price corrections have taken many months in the past and it may take some time for the price of the cryptocurrency to hit another all-time high. He criticized bitcoin’s proponents for constantly hyping the crypto regardless of the price.
Peter Brandt Warns It May Take Some Time for Another Bitcoin Peak
Veteran trader Peter Brandt cautioned investors Thursday that it could take some time for the price of bitcoin to reach another all-time high.
Brandt has been a futures and FX career trader since....