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Bitcoin finally broke below the $40K point this past weekend. This had sent the cryptocurrency back towards six-month lows. One thing though was that liquidations or the digital asset remained lower than expected. The current liquidation volumes lay well below the volumes that have accompanied previous crashes like this one.
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"As a major correction sent ETH falling from $3,200 to $2,500 in the past week, on-chain liquidations surged as positions started to hit their liquidation point," analysts at Delphi Digital said in Monday's newsletter, adding that MakerDAO has profited from the liquidation event. Original Source
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Bitcoin (BTC) stayed lower on Friday after an overnight bout of volatility sent the largest cryptocurrency to six-month lows.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$40,000 optimism unwindsData from Cryptox Markets Pro and TradingView showed BTC/USD reversing at $38,250 after shedding over $4,000 in hours.Circling $39,000 at the time of writing, traders
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On Monday, bitcoin fell to a three-month low, hitting $39,692.03 after the largest cryptocurrency by market capitalization saw a steady decline, possibly caused by speculation that the Federal Reserve could move quickly to tighten monetary conditions in the face of fast-rising inflation. Original Source
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Bitcoin (BTC) has dealt significant pain to bulls in recent weeks, and now, fresh data shows just how much.In a tweet on Jan. 10, on-chain analytics firm Glassnode revealed that those longing BTC had suffered a rerun of last May, when BTC/USD began to fall toward $30,000.Long traders fail to
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Ether lost its $3,300 support level in early Asian trading hours on Friday, plunging to as low as $3,113 before briefly gaining over $90 at the time of writing. Friday’s drop was a continuation of a market-wide decline that started on Wednesday. The U.S. Federal Reserve released the minutes of
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Liquidations occur when an exchange forcefully closes a trader’s leveraged position as a safety mechanism due to a partial or total loss of the trader’s initial margin. This happens primarily in futures trading, which only tracks asset prices, as opposed to spot trading, where traders own the actual assets. Source
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Bitcoin liquidations have continued as the year draws to an end. The year has been rocked with liquidations that have gone past the $100 billion mark and there does not seem to be a stop even as 2022 rolls around. Long traders have had to bear the brunt of the
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Lending project B.Protocol, which builds tools to “democratize” DeFi liquidations, raised $2.2 million.B.Protocol is one of the many money legos propping up the patchwork landscape of decentralized finance. Catering specifically to lenders in need of liquidating sour loans, it had roughly $87 million in total value locked as of press
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Interestingly, both longs and shorts took a hit. Of the approximately $9 million in total liquidations, $4.99 million occurred on ‘long’ positions—or the trades betting on upward price movements on people, while the remaining $4.1 million worth occurred on ‘short’ positions, meaning those betting on declining prices of people. Source
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