Another $1 billion wipeout: Why is Bitcoin seeing extreme price moves?
Nearly $1 billion worth of Bitcoin futures contracts have been wiped out once again. Nearly $1 billion worth of Bitcoin (BTC) futures contracts were liquidated on Jan. 13, a day after the big shakeout. The continuous loop of liquidations is causing extreme volatility and large price swings in the cryptocurrency market.Total Bitcoin liquidations. Source: Bybt.comWhat are futures liquidations, and why are so many Bitcoin positions being liquidated?In the Bitcoin futures market, traders borrow additional capital to bet against or for Bitcoin. The technical term for this is leverage, and when....
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The crypto market sentiment has been on the decline over the last year and it has come in tandem with the decline in bitcoin price. Bitcoin, which moves the entirety of the crypto market most times, has had a tough go of it in recent times. Now, as the pioneer cryptocurrency continues to struggle to hold a good value in the market, sentiment has plunged towards 3-month lows. Market In Extreme Fear The crypto market is now entering what is one of the longest fear trends in recent history. Over the last six months, there has not been any significant recovery in market sentiment. The last....
The Bitcoin fear and greed index has started to quickly change to extreme greed as the crypto continues to rally up. Bitcoin Fear And Greed Needle Starts Pointing At Extreme Greed As per the latest weekly report from Arcane Research, the fear and greed index quickly turned to extreme greed values last week. The “fear and greed index” is a Bitcoin indicator that shows the general crypto market sentiment at the time. The metric uses a numerical scale of one to hundred for displaying the different sentiments. Values close to zero fall under the “extreme fear” category....
The last article stated: The blowoff top did occur as price reached a high of ~US$500, before running into what is an area of major overhead supply. All of the indicators were flashing signs of extreme overbought conditions and while they have come off a bit as the price has declined they are still elevated even following the price decline of the last few days. The RSI has formed a double top and is now correcting. The MACD is starting to roll over as well but is still extreme. The DMI remains extreme but buying pressure is subsiding, which should lead to a correction as well. “The bull....
Following the Ripple partial victory over the SEC back in early July, the XRP price grew rapidly and climbed double-digits to secure a new yearly high. However, this has turned out to be short-lived as less than two months later, the cryptocurrency has once again succumbed to the bears. This has wiped out its gains […]
Bitcoin has chosen violence with a sudden move to the downside resulting in a 5% loss in the daily chart. As of press time, the first crypto by market cap seems to be recovering as it moves back to the mid-zone of its current levels. Related Reading | Bitcoin Maximalism – Crypto Survivors and OG’s Could Make a Case to Differ Bitcoin trades at $65,442 still with a 3.6% profit in the daily chart. In the short term, BTC’s price has found support at these levels, but could see further downside if it dropps below $63,000. To the upside, much of the resistance has disappeared and BTC seems....