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Bitcoin calls traders’ bluff with fresh $40K fakeout as Fed decision day arrives

Another trap for shorts and longs alike sparks over $200 million in cross-crypto liquidations.
Bitcoin (BTC) tested traders’ neves yet again on March 16 as a fresh spike over $40,000 ended in minutes.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewShorts feel the burn after abrupt trip to $41,700Data from Cointelegraph Markets Pro and TradingView showed BTC/USD suddenly surging to highs of $41,700 on Bitstamp — before instantly reversing.Two hourly candles was all it took for the entire market to rise by $2,000, break significant resistance levels and come all the way back down again.The move, while recently commonplace, was not without its casualties, as evidenced by liquidations across exchanges. According to data from on-chain monitoring resource Coinglass, Bitcoin accounted for $98 million of these over the 24 hours to the time of writing. Total crypto liquidations for the period were just over $200 million

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We współpracy z: https://cointelegraph.com/news/bitcoin-calls-traders-bluff-with-fresh-40k-fakeout-as-fed-decision-day-arrives

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