Bitcoin Dominance Slips To 3-Year Low As Liquidation Hits $2.5 Billion Longs
Yesterday’s Twitter feud between business tycoon Elon Musk and the crypto community had far-reaching consequences that went beyond the constant verbal sparring on the popular social media site. For the crypto market, it was a disaster. Liquidation Galore In The Crypto Market According to data from ByBit, a total of $2.4 billion worth of longs […]
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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,....
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....
The crypto market has been subject to large liquidation following the price crash. Coming out of the weekend, the market had recorded one of its worst crashes which saw bitcoin fall below the $30,000 territory for the first time this year. With this had come hundreds of millions in short liquidations. However, the bloodbath seems far from over as the market continues to crumble and liquidations have now run over the $1 billion mark. Crypto Traders Getting Rekt After the crash that rocked the market coming out of the weekend, crypto traders had taken a hard hit. However, like always, this....
Bitcoin market dominance continues to decline as the markets make their way back up the charts. The top cryptocurrency has seen its market share consistently dropping as investors get interested in altcoins. Over the five years since it has been in operation, Ethereum now has a bit under half the market dominance of the digital asset. This has translated to altcoins like Ethereum rallying despite what direction the price of bitcoin is headed. Now, once again, as is the same with all bull markets, the altcoins are breaking away from the influence of bitcoin. As the bull rally continues to....
Four days ago, the total value locked (TVL) in decentralized finance (defi) was coasting along at $255.84 billion and since then, the TVL has dropped 8.55% in value. During the last 24 hours, the TVL has slid 2.80%, and Curve’s $23 billion locked today represents 9.84% dominance. Value Locked in Defi Takes a Hit, TVL Down 2.8% in 24 Hours Since digital currency markets have been dropping in value during the last few days, the value locked in decentralized finance has slipped as well. In four days, the TVL in defi dropped 8.55% from $255.84 billion to today’s....