Crypto market sell-off leads to $531 million in liquidations as BTC dips to $21,400

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

Data from TradingView shows that Bitcoin broke below support at $23,000 in early trading, quickly sliding to a low of $21,290 before reinforcements arrived to put a halt to the sell-off. This marks a daily decline of 9.3% for BTC.The top cryptocurrency now finds itself trading at the bottom of the range it's been stuck in for the past month, threatening to fall back to support at $20,000 if the situation continues to deteriorate.

Breaking it down by asset, Bitcoin traders lost over $203 million while Ether traders at $140 million as a result of Friday’s downturn.The widespread pullback in the crypto market has put bears back into the driver’s seat, according to Kitco technical analyst Jim Wyckoff, who noted that “Bitcoin-U.S. dollar prices are solidly down and hit a three-week low” in his morning Bitcoin brief.

As for what levels to keep an eye on moving forward, the spotlight has once again returned to Bitcoin’s 200-week moving average, which has historically been a reliable bear market indicator.Then it is possible that a relief bounce into the 200-week MA to flip it into new resistance could take place

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Britain’s FCA fines Citigroup Global Markets £12.5-million for market abuse rule failingsCitigroup Global Markets had agreed to resolve the case and qualified for a 30% discount, otherwise it would have been fined £18-million, the FCA said
Herkunft: globeandmail - 🏆 5. / 92 Weiterlesen »

U.S. weekly jobless claims dip as labour market remains resilientThe weekly unemployment claims report added to strong industrial production in July and underlying retail sales growth in allaying fears that the U.S. economy was in recession
Herkunft: globebusiness - 🏆 31. / 66 Weiterlesen »

David Rosenberg: Look under the hood and what do we see? An earnings recessionWhat stocks to buy and sell in a misplaced stock market rally. Read more from Dave Rosenberg and his team
Herkunft: nationalpost - 🏆 10. / 80 Weiterlesen »