Friday, March 29, 2024
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Bitcoin Plunges to Fresh Lows Under $8,400; $90 Million in BitMEX Longs Liquidated

Despite the strength seen earlier this week, Bitcoin started to plunge on Saturday.After printing a bearish “Darth Maul” candle that resulted in a crucial reversal at $9,200, the cryptocurrency has trended lower and lower, falling as low as $8,325 just minutes ago as of the time of writing this article.

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A $2M Bitcoin Long Just Got Liquidated on Binance; Start of a Steep Correction?

Bitcoin took a substantial hit in trading on Monday, moving from $10,000 to $9,452, in just fourteen hours. The drop, which largely came on profit-taking sentiment, also saw Binance Futures registering one of its biggest long liquidations: worth $2 million.The overleveraged exit order did not switch Bitcoin’s long-term bias –

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