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Bitcoin investors are eagerly jumping into long positions as they anticipate the Federal Reserve’s interest rate decision on May 7. The market is buzzing with bullish sentiment as traders take strategic positions ahead of this significant event. With the Fed’s interest rate announcement looming, Bitcoin bulls are gearing up for potential price movements. This surge [...]
Bitcoin is poised to obliterate short positions once it surpasses $110,000 and enters a phase of price discovery. This milestone will likely shake up the market and drive even more interest in the leading cryptocurrency. As Bitcoin continues its upward trajectory, many traders who have taken short positions are feeling the pressure. The potential for [...]
Bitcoin risks going down to $102,700, which could trigger the liquidation of close to $1.45B in long positions.
Crypto whale signals a bearish sentiment on $HYPE altcoin by shorting $648,000 worth of the token through HyperLiquid.
In the wake of Binance’s departure from Canada, cryptocurrency exchange Bybit has announced its exit from the nation as well, citing “recent regulatory development” as the reason. Effective May 31, Bybit stated that it would cease accepting applications from Canadian residents. Bybit to Pause Operations in Canada According to a Tuesday announcement, Bybit is withdrawing [...]
The post Bybit Follows Binance’s Footsteps, Exits Canadian Market Amid Regulatory Concerns appeared first on Crypto Breaking News.
The entire cryptocurrency market has experienced a steep decline over the past 24 hours, with its total market cap plunging by double digits following a barrage of volatile price swings. Unsurprisingly, this sharp downturn has led to widespread liquidations among multiple assets within the past trading day. Notably, this wave of liquidations has led to over $2.22222 billion being wiped from cryptocurrencies in the past 24 hours. According to Coinglass data, Dogecoin traders have witnessed significant losses, with numbers placing the meme coin among the hardest-hit assets in this liquidation event. Dogecoin Traders Lose Over $82 Million In 24 Hours Data from Coinglass reveals that Dogecoin liquidations have been among the most severe in the market over the past 24 hours, as leveraged positions crumbled under the weight of rapid price swings. A closer look at the data shows that the vast majority of these liquidations stemmed from long positions, with bullish traders suffering losses amounting to $69.32 million. These traders, mostly expecting a rally this week or at least a stable market, were caught off guard as Dogecoins price took a sharp turn downward alongside the rest of the market, forcing liquidations and cascading losses. Related Reading: 70 Million DOGE Make Their Way To Binance Amid 10% Dogecoin Price Crash Interestingly, despite the broader trend leaning toward a price decline, short sellers were not spared from the liquidation frenzy. Data shows that $13.35 million worth of short positions were liquidated, suggesting that brief price spikes occurred during the general downtrend. These momentary surges may have triggered stop losses for some short traders, leading to forced liquidations even as the overall trajectory remained bearish. Market-Wide Liquidations Top $2.22 Billion Amid High Volatility The cryptocurrency market has kicked off the new week on a bearish note following a period of consolidation throughout the previous week. Bitcoin, which had maintained relative stability, saw a sharp decline as the weekend came to a close, breaking below the $100,000 mark on Sunday and continued to extend the downside move from there. Related Reading: Crypto Fear And Greed Index Barrels Toward Extreme Greed Again As Bitcoin Price Clears $101,000, Is This Good News? Bitcoins decline triggered a broader market sell-off, with several major cryptocurrencies following suit. At the time of writing, the global crypto market cap has dropped by approximately 11% over the past 24 hours and is now at $3 trillion, its lowest level since November 15, 2024. As such, the broader cryptocurrency market has experienced a brutal shakeout in the past 24 hours, with liquidations surpassing $2.22 billion. Bitcoin and Ethereum traders have taken the biggest hits in this liquidation spree. Bitcoin alone has recorded over $406.96 million in liquidated positions, with the majority being long trades of $341.36 million in the past 24 hours. However, Ethereum traders have experienced the heaviest liquidations, with $601 million in positions wiped out. With Dogecoin experiencing $82.67 million in liquidations, the aftermath of this sell-off could set the stage for increased volatility alongside other cryptocurrencies in the short term. At the time of writing, Dogecoin is trading at $0.235, down by 22.5% in the past 24 hours. Featured image from Adobe Stock, chart from Tradingview.com
Bitfinex: Bitcoin Long Positions Surge to $5.1 Billion – Speculation or Risk Management? In a notable development in the cryptocurrency market, Bitcoin long positions on Bitfinex have spiked to $5.1 billion. This increase has raised eyebrows and sparked speculation about the motives behind such a substantial uptick in long bets on the leading digital asset. [...]
The post Who’s Driving? Bitfinex Long Positions in Bitcoin Surge to $5.1B: Buy or Hedge? appeared first on Crypto Breaking News.
As bitcoin dipped below the $29K threshold and the overall crypto economy experienced a 1.4% decrease to $1.17 trillion, cryptocurrency derivatives markets underwent $92 million in liquidations, primarily in long positions. Cascading Effect: Bitcoin’s Fall Under $29K Sparks $92 Million in Liquidations The crypto economy, along with a significant number of digital assets, faced a [...]
The post Bitcoin’s Plunge Below $29K Triggers $92 Million in Derivatives Liquidations; Crypto Markets Tremble appeared first on Crypto Breaking News.
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