A $42,000 Bitcoin Ahead as Bulls Wreck Leveraged Bearish Positions
A surprising price recovery in the cryptocurrency market led by Bitcoin caught bears on the wrong side of the trade this Monday. Bears lost $1 billion on their leveraged short bets, according to data provided by ByBt.com. The BTC/USD exchange rate rebounded to an intraday high of $38,750 before correcting lower short-term profit-taking sentiment. At […]
Related News
The US Securities and Exchange Commission (SEC) will not approve leveraged Bitcoin Exchange-Traded Funds (ETF), says a report. SEC Won’t Approve Leveraged Bitcoin Fund As per a report from Wall Street Journal, the SEC has told at least one asset manager not to go ahead with plans for a leveraged Bitcoin ETF. An exchange-traded fund […]
Traders in Europe are threatening legal action against eToro for allegedly closing their leveraged crypto positions without enough notice.
Bitcoin has seen some immense volatility throughout the past few days, rallying to highs of $15,800 just over a day ago before facing a sudden influx of selling pressure that sent its price plunging to lows of $14,800. This $1,000 movement wiped out over-leveraged positions from both bulls and bears and has resulted in the […]
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....
Bitcoin price sold off from a bull-trap at 09h00 UTC today. The move lower has changed the chart technical bias to bearish across the board. An escape route out of stronger decline still exists, but time is running out. Yesterday’s guestimate of a retracement to the 1-hour 200-period moving average has been exceeded. The market fell straight down into a test of the $400 zone across exchanges and suddenly the chart is back to looking bearish in the larger timeframes: 4-hour and 1-day. Sunday’s fizzled launch failed to continue higher to resistance. The bulls had been accumulating for over a....