Category: Analysis
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Bitcoin isn’t out of the woods yet despite Friday’s stock market rally
The turbulence seen within the stock market over the past several weeks has sent shockwaves across virtually all markets, leading Bitcoin and other digital assets to post unprecedented losses throughout the past several days and weeks. This intense global downturn has been fueled by the Coronavirus pandemic, which has struck fear into the hearts of…
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900-Point Dow Futures upsurge triggers a massive Bitcoin rally
The Bitcoin price has recovered from $3,600 to over $5,200, recording a 44 percent recovery within merely hours. The upsurge coincided with a 900-point upsurge of the Dow Jones Industrial Average (DJIA). After a 9.99 percent drop in a single session, the Dow Jones entered deep into a bear market territory. It saw record-high levels…
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FTX CEO: Bitcoin price might have gone to zero if BitMEX hadn’t gone offline
The CEO of Hong Kong-based crypto derivatives exchange FTX has speculated that if BitMEX had not gone offline on account of “hardware issues” Friday morning, the price of Bitcoin could have crashed to zero. Sam Bankman-Fried, a.k.a. SBF, mused in a thread on Twitter Friday morning that BitMEX may have pulled their exchange offline out…
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![BitMEX reportedly freezes as XBTUSD crashes 10% below Bitcoin spot price [UPDATED]](https://amazingcrypto.com/wp-content/uploads/2020/03/Screen-Shot-2020-03-13-at-11.04.12-AM-832x1024-1.jpg)
BitMEX reportedly freezes as XBTUSD crashes 10% below Bitcoin spot price [UPDATED]
The price of Bitcoin dived $400 below the BTC spot price on BitMEX’s Bitcoin perpetual swap contract as the platform reportedly halted trading on account of “system instability.” Traders have widely reported experiencing a system crash on BitMEX between 02:16 and 03:00 UTC Friday morning, as XBTUSD crashed to $3,600, $400 below the Bitcoin spot…
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Bitcoin price plummets to $5,200 in a 1-hour shock crash, liquidating $665 million
The Bitcoin price crashed from $7,400 to $5,200 in just one hour, liquidating a staggering $665 million worth of long contracts. Bitcoin dropped below the highly anticipated weekly 200-day exponential moving average (EMA), making it one of the steepest single-day drops in the history of the market. $665 million worth of Bitcoin longs liquidated in…
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Bitcoin tumbles in tandem with global market after Trump Coronavirus address; here are the levels to watch
Bitcoin has entered a sharp sell-off in the wake of an address Wednesday night by U.S. President Donald Trump on the Coronavirus, strengthening speculation the number-one crypto by market cap is trading as a risk-on asset. Global markets entered another rout as President Trump said his administration would be imposing fresh measures to combat the…
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Bitcoin sees sharp decline as stock market futures plummet 5%; is all hope lost?
Bitcoin and the aggregated cryptocurrency market attempted to rebound this evening following an intense bout of selling pressure seen earlier today, which came about in tandem with the decline seen by the U.S. stock market. This backdrop of global bearishness has proven to be devastating for BTC, as its firm status as a risk-on asset…
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Ethereum is down 27% in 4 days: here’s why it’s crashing harder than other cryptocurrencies
Ethereum has consistently been the best performing cryptocurrency in the first two months of 2020. It surged by 127 percent from January 1 to the highest point of the year on February 15, after a lackluster year in 2019. Yet, in the last 4 days, the price of Ethereum has fallen by more than 27…
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Dow futures drops 700 points at day’s lowest point, leaving Bitcoin vulnerable to a correction
Dow Futures indicate that the Dow Jones Industrial Average (DJIA) is set to fall at open, following a strong recovery on March 10. The sell-off in the U.S. equities market puts Bitcoin at risk of a further pullback. Bitcoin on track for three consecutive weeks of steep sell-off Since the last week of February, the…