Category: Analysis
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An Abrupt 7% Bitcoin price drop to $8,100s liquidated $185 million of longs on BitMEX
The Bitcoin price declined by seven percent in the last 24 hours, liquidating more than $185 million worth of longs. The drop comes hours before the highly anticipated weekly close of BTC. $91 million worth of longs liquidated in a single hour With many hours left on the day towards the weekly close, Datamish.com shows…
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How this crypto exchange is already challenging BitMEX less than a year since its launch
FTX—a crypto derivatives exchange invested by Binance in December 2019—is rapidly eating up the cryptocurrency futures trading and options market. According to the data released by researchers at Skew, the open interest of Ethereum futures on FTX has hit $95.7 million. That is, more than 50 percent of the open interest of OKEx and BitMEX,…
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Why the Bitcoin price just dropped 4% in a single hour, liquidating $20 million
The Bitcoin price just dropped by more than four percent within one hour—from $9,224 to $8,851—after 52 hours of ranging with low volatility and volume. The sudden drop led to the liquidation of $19.25 million on BitMEX and $1.5 million on Bitfinex based on statistics from Datamish.com, causing a sizable long squeeze in a short…
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A recent report indicates that a new “altseason” could be underway
The research arm of Binance, the world’s largest crypto exchange by trading volume, published a report suggesting that a new “altseason” may be coming soon. Rising interest for altcoins Throughout the month of February, Binance saw Bitcoin’s trading dominance plummet from 40 percent to around 27 percent. The significant drop represents one of the “sharpest”…
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This occurrence on Bitcoin’s futures chart shows fresh 2020 highs might be in sight
Following the period of sideways trading that Bitcoin (BTC) was subjected to earlier this week, it now appears that the benchmark cryptocurrency is once again entering another consolidation phase as it stabilizes within the lower-$9,000 region. This rangebound trading may not last long, however, as BTC currently has one open CME futures gap on its…
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Funds on CME Bitcoin futures market have turned aggressively bearish, data shows
Large speculators on the CME Bitcoin futures market appeared to be positioned overwhelmingly short weeks in advance of Bitcoin’s supposed coronavirus panic-selling correction. Data from the CTFC Commitment of Traders report reveals that, in late January, leveraged funds began to turn aggressively bearish on the CME cash-settled Bitcoin futures market. The shift in trend caused…
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Bitcoin’s price is “very attractive” because of this one simple indicator
Following an extended bout of sideways trading, Bitcoin and the aggregated cryptocurrency market has been able to post some decent upwards momentum, with BTC climbing above its previous key resistance level at $9,000. The latest upwards movement was not entirely unexpected, as one prominent analytics firm had previously noted that on-chain data seemed to suggest…
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This major crypto is going parabolic as analysts eye a movement to fresh highs
Tezos (XTZ) has been one of the most bullish cryptocurrencies throughout late-2019 and 2020, with the crypto finding itself caught within an intense uptrend that has only been rivaled by that of Chainlink. This highly bullish altcoin has been able to extend its momentum today after Bitcoin’s break above $9,000 sparked a market-wide uptrend, with…