Crypto market sees $295 million in liquidations across exchanges over past 24 hours

  • 📰 TheBlock__
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 53%

Ether Nouvelles

France Dernières Nouvelles,France Actualités

Despite a drawdown in the crypto market, derivatives traders are positioning for price increases, particularly for ether, analysts said.

Bitcoin has been beset by heavy selling pressure in the past 24 hours, causing the digital asset to fall below the $60,000 support level and reaching a recent low of around $57,800.

Ether, the second-largest cryptocurrency, also faced significant liquidations, with over $71 million liquidated — of which $62 million were long positions. Despite a recent drawdown in the cryptocurrency market, derivatives traders are positioning for price increases in the coming months, particularly for ether, analysts said.

Thursday's QCP Capital report expanded on the factors that could cause prices to break out of the current downtrend. The analysts offered two dynamics that could drive a reversal in a further price correction. "Liquidation clusters on bitcoin and ether are heavily skewed to the topside, opening up potential short squeezes," the QCP Capital analysts added.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 464. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

TD Cowen warns crypto companies themselves may push legislation that 'derail' crypto industry as a wholeA report from the investment bank TD Cowen explains how clearer cryptocurrency legislation can 'derail' the industry, as seen previously with the cannabis industry.
La source: TheBlock__ - 🏆 464. / 53 Lire la suite »