Bitcoin Surge To $72,000 Unleashes $470M Squeeze On Crypto Bears
Data shows the uplift that Bitcoin and other cryptocurrencies have seen during the past day has induced a significant amount of liquidations in the derivatives market. Crypto Derivatives Market Has Witnessed Nearly $630 Million In Liquidations According to data from CoinGlass, a large amount of liquidations have occurred in the cryptocurrency derivatives sector. “Liquidation” here refers to the forceful closure that any open contract undergoes after it has amassed losses of a specific degree. Related Reading: Cardano Whale Count Climbs To 4-Month High Amid Steady Accumulation....
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A cryptocurrency analyst has pointed out how Zcash (ZEC) has broken above the resistance level of a Descending Triangle with its latest surge. Zcash Is Breaking Out Of A Descending Triangle In a new post on X, analyst Ali Martinez has talked about a technical analysis (TA) pattern that Zcash could be breaking out of right now. The pattern in question is a Descending Triangle, which is a type of Triangle. Related Reading: Bitcoin Surge To $72,000 Unleashes $470M Squeeze On Crypto Bears Triangles form whenever an asset observes consolidation between two converging trendlines. Like with other....
Data shows a large number of long liquidations have occurred in the cryptocurrency market as Bitcoin and other assets have plunged. Crypto Liquidations Have Surpassed $712 Million Over The Past Day According to data from CoinGlass, chaos has occurred on the derivatives market following the volatility Bitcoin and the company have gone through during the last 24 hours. Related Reading: Bitcoin MVRV Ratio Signals Price Hot, But Not In Danger Zone Yet Below is a table that shows how the liquidations have looked for the cryptocurrency sector within this window. As is visible, almost $712....
Data shows that on Monday crowded Bitcoin shorts have lead to the largest recorded squeeze in the history of the cryptocurrency. Bitcoin Records Largest Short Squeeze Ever As per an Arcane Research report, BTC has recorded the largest squeeze in its history where $750 million worth of shorts have been liquidated. Here is a chart that shows the data for Bitcoin short liquidations over the past one year: BTC short squeeze spikes | Source: Arcane Research As is clear from the above graph, the short squeeze seen on Monday, 26 July, hasn’t been observed in the past year. In fact,....
Yearn.finance (YFI) has been facing heightened volatility as of late, with bears attempting to capitalize on recent drama surrounding one of the projects that Yearn’s founder is working on. However, the cryptocurrency’s descent now appears to be slowing slightly, with bulls posting an ardent defense of $22,000 – a price that was visited during a […]
Bitcoin’s price action has been rather lackluster as of late, with bulls and bears reaching an impasse following its surge up to the mid-$11,000 region. Each dip is met with significant buying pressure, while each push towards $11,600 is rapidly rejected by bears. This has created a consolidation channel between $11,300 and $11,600. Although neither […]