Coinspeaker
Bitcoin (BTC) Price Tanks by $1,000 Over Last Hour amid Huge Liquidations
After a strong push above $30,000 on Tuesday, the world’s largest cryptocurrency Bitcoin (BTC) has come under heavy selling pressure once again. Over the last hour from press time, the BTC price came crashing down losing by more than $1,000 amid heavy liquidations.
As of press time, the Bitcoin price is down by more than 2% and is currently trading at $29.228 levels. However, the recent sell-off in Bitcoin doesn’t seem to come from any fundamental reason.
In this long-squeeze event, more than $25 million in Bitcoin futures have been liquidated over the last hour, wherein the longs made 98% of the total position. Referring to the open interest or the total number of contracts in the futures market, Vetle Lunde, a senior analyst at K33 Research, told CoinDesk:
“Seems to be more of an leverage wash out. Binance OI in BTCUSDT perps fell 5.1% in 15 minutes, effects more severe in ETH with larger liqu
We współpracy z: https://www.coinspeaker.com/bitcoin-btc-price-tanks-1000-liquidations/
