Friday, May 27

Bitcoin crash: 100 million dollars were liquidated in just one hour


The crypto market has been in the red for weeks. While hodlers highlight the situation as a new buying opportunity, thousands of other investors are exiting the market with profits considerably lower than expected. In just one hour, the bitcoin market (BTC) recorded record liquidations of 100 million dollars.

Bitcoin is down more than 30% over the last month. Source: coin360

During this morning, BTC was struggling to defend the level of USD 35,000. But nevertheless, liquidations by some 100,000 investors quickly pushed the price towards $33,000, where it remained for a few hours until recovering above USD 34K. Within four hours, sales reached $200 million.

The largest order of the day was placed on the Bitmex exchange worth $6 million.

Read more: ► Bitcoin faces its worst week in 8 months

Amid the extreme sell-offs, investor sentiment remains completely bearish. El Bitcoin Index Fear & Greed -index that measures the sentiment of capitalists from fear to greed- touched a low of 11 points over the weekend, and is currently at 13, so “Extreme Fear” continues to dominate the market.

In the last hours, the price of BTC has managed to recover above USD 36,000, but there are no grounds to project a recovery in the short term. The rises in interest rates in the United States have hit alternative assets hard, and the dollar has begun to regain confidence among large investors.

 

 

Keep reading:

► 25% of SMEs plan to accept crypto payments in 2022

► Interview with Norberto P Giudice @CriptoNorber, Crypto Referent of the Year

► “More countries will invest part of their reserves in bitcoin in 2022”

 

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