Bitcoin Surges Towards $11,700, Liquidating Millions

2020-10-13 00:47

It appears that Bitcoin investors are not fazed by the prospects of a move lower due to the CME futures gap formed at $11,100. The leading cryptocurrency has continued to thrust higher, pushing towards $11,700 just minutes ago as of this article’s writing.

The leading cryptocurrency has now printed six days of gains in a row, suggesting it is on track for a full reversal of the September losses.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Pushes Towards $11,700 

Bitcoin is thrusting towards $11,700 after weeks of consolidation between $10,000 and $11,000. The leading cryptocurrency is about to hit $11,700, having pushed 3% higher in the past 24 hours alone. Over the past five days, the cryptocurrency has rocketed from around $10,600 to $11,700, marking a gain of over 10%.

This latest leg higher has resulted in millions of dollars worth of liquidations on futures trading platforms. Skew.com reports that more than $3 million worth of liquidations has taken place on BitMEX’s Bitcoin market alone. As BitMEX only makes up a small portion of the rest of the crypto futures industry, it’s fair to say that millions more were liquidated on other platforms.

According to crypto derivatives tracker ByBt, the funding rates of leading futures exchanges are starting to lean positive across the board for the first time in a number of weeks. This suggests that longs are starting to become more aggressive than shorts. As long as the funding rate remains low, there should not be an immediate concern for long holders.

Chart of BTC's price action over the past few weeks from TradingView.com Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin All Eyes on Stimulus Discussions

Portions of this rally have been triggered by expectations of another U.S. stimulus bill passing, which would result in the U.S. dollar losing value.

It is important that cryptocurrency investors watch these discussions moving forward to ensure that they have a comprehensive view of Bitcoin’s price action.

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Title

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bitcoin 700 towards higher thrust continued cryptocurrency

Источник: newsbtc.com

bitcoin 700 → Результатов: 126


Фото:

$28.7K Could Be Next Level To Break For Bitcoin, Here’s Why

On-chain data suggests the $28,700 mark, which Bitcoin has yet to hit since the LUNA collapse, could be the next major obstacle to clear for the asset. Bitcoin Has Been Under The $28,700 Level For 310 Days Now According to data from the on-chain analytics firm Glassnode, the $28,700 is the cost basis (that is, the acquisition price) of a specific whale group in the BTC market.

2023-3-22 22:48


Фото:

3 Reasons Why Bitcoin Price Has Surged $700 This Week

Bitcoin has bounced back above the $10,000 level, gaining over $700 since Sunday. Here are three of the main drivers for why the dominant cryptocurrency is rallying right now. Binance & Bitfinex Announce Bitcoin Derivatives While Bitcoin started as a decentralized digital currency meant for peer-to-peer transactions, crypto exchanges reshaped the coin’s flow by handling most of the trading.

2019-9-4 19:00


Bitcoin’s imminent support breached: $9,700 to $9,400 or $10,100 to $10,700?

As mentioned in the crossroads article, Bitcoin has successfully invalidated the support after breaking out of the rising wedge and closing below it in the one hour chart. The short-term prospect for Bitcoin from hereon looks bleak and gloomy as, at press time, the price of Bitcoin was $9,943, after it had collapsed by more […] The post Bitcoin’s imminent support breached: $9,700 to $9,400 or $10,100 to $10,700? appeared first on AMBCrypto.

2019-8-21 18:00


Фото:

Bitcoin Breaks Downtrend by Surging 10% to $6,700, is the Tether Sell-off a Factor?

Earlier today, on Oct. 15, the price of Bitcoin surged from $6,150 to $6,700 on most major fiat-to-cryptocurrency exchanges including Coinbase, Bitstamp, and Kraken. Although the price of the dominant cryptocurrency surpassed the $7,500 mark on Bitfinex, the increase in the value of Bitcoin on Tether-enabled exchanges such as Bitfinex and OKEx were triggered by […] The post Bitcoin Breaks Downtrend by Surging 10% to $6,700, is the Tether Sell-off a Factor? appeared first on CryptoSlate.

2018-10-15 14:00


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