Bad call? Bitfinex bears closed a block of Bitcoin shorts before the drop bel...
Bitcoin short positions at Bitfinex soared as BTC price dropped below $40,000, so why did the majority of them close before the largest part of the correction? Bitcoin price is still in a rut, trading near $33,000 and trapped in a downtrend that just seems to get worse with the passing of each day. As the price slumps, analysts have consulted with several technical and on-chain metrics to explain the price collapse, but none of these have picked up on the exact reason. One area of interest has been the sharp rise in short positions at Bitfinex in the past week. Traders are placing....
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$726 million in Bitfinex shorts were quickly closed after Bitcoin price bounced at $30,500, leading traders to speculate whether bears have given up. On June 25, the amount of Bitcoin (BTC) margin shorts at Bitfinex increased by 22,000, equivalent to $726 million. At the time, Cointelegraph reported that there was a significant increase in Bitfinex's spot volume market share starting at 9 am UTC, matching the demand in the short margin.Data confirms that one (or more) whales actively shorted the market, betting on a price decrease. The average price of the trade was around $33,000, so....
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....
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....
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 Halving just happened, We’re all still alive, and so is Bitcoin! The first 12.5 BTC block was mined by F2Pool (the largest mining operation in the world) at 17:46 (GMT). Bitcoin price and hashrate seem to be stable after a 5% price drop just half an hour before the Halving. The speculation is over and any dramatic changes regarding the value of Bitcoin will probably happen within the coming months if they occur at all. Bitcoin saw some volatility in the last few months, which was overall positive considering BTC rose from $420 to $630 in a period of 3 months, reaching the $789.78 (Data....