Bitcoin batters longs as liquidations copy May 2021 run to $30,000
Longs have been paying the price since early December, data shows, in a sign that accompanied a market reversal several times last year. Bitcoin (BTC) has dealt significant pain to bulls in recent weeks, and now, fresh data shows just how much.In a tweet on Jan. 10, on-chain analytics firm Glassnode revealed that those longing BTC had suffered a rerun of last May, when BTC/USD began to fall toward $30,000.Long traders fail to “catch the knife”According to Glassnode’s Longs Liquidations Dominance metric, the “majority” of liquidations over the new year involved longs.This is unsurprising,....
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This year crypto derivatives traders faced some tough times, but the current situation seems much more favorable to Bitcoin bulls. Bitcoin (BTC) might be struggling to break the $36,000 resistance for the past three weeks, but bulls now have one less thing to worry about: cascading futures contracts liquidations.One might be under the impression that a $1 billion liquidation is usual for Bitcoin. Still, traders tend to remember the most recent exaggerated movements more than any other price shifts, especially when the price crashes and people lose money.This negativity bias means that even....
Data shows lost and held Bitcoin hitting a one-year high, while miners opened the year by accumulating “massive” amounts of BTC. New data shows that Bitcoin (BTC) miners are hoarding more coins than at any time in the past five months, which could be a fresh signal that the current prices are not for selling.Analyzing its miner net position change indicator on Jan. 11, on-chain analytics firm Glassnode revealed what popular Twitter account Bitcoin Archive described as "massive" accumulation by miners.Miners show no desire to sellBitcoin price may be disappointing spot traders this year,....
The latest Bitcoin correction triggered a record $500 million worth of liquidations in 60 minutes on major exchanges. The Bitcoin markets emphatically rejected the $60,000 price range on March 15, with excessive leverage driving a record $500 million worth of long liquidations over just 60 minutes.Glassnode’s founders, Jan & Yann, emphasized the new record hourly Bitcoin for liquidations, noting that more than half open futures contracts prior to the margin calls were leveraged by at least 20 times.In the last hour alone, nearly $500M in #Bitcoin Longs got liquidated, this is a historic....
Over the last 24 hours, thousands of crypto traders have lost their positions in the market. The liquidations had ramped up, especially after the price of bitcoin had lost its footing above $19,000. It triggered one of the largest liquidations for the year 2022, with traders losing hundreds of millions of dollars in the span of a single day. More Than 125,000 Trader Rekt In the 24 hours following bitcoin’s decline to the $18,000 territory, more than 125,000 have had their positions liquidated. This amounted to more than $410 million that has been lost in the past day. Not surprisingly, the....
Bitcoin had broken above $40,000 again last week, marking the digital asset’s fifth break above this point this year alone. Given that it has been trending in its $36-$38k support level before this, traders had taken to placing their trades in anticipation of the cryptocurrency’s next movements. The digital asset had barreled towards $42,000 leaving positive sentiment in its wake but resistance at this point proved devastating for long traders. Bitcoin Long Traders Suffer Losses A recent pullback in the price of bitcoin saw a significant amount of long liquidations rock the market. Bitcoin....