Bitcoin and Ethereum Just Hit Their Lowest Prices Since August After $1 Billion in Liquidations. Where Do Analysts Say They Bottom?
Forced long liquidations made up 88.2% of the sell-off, and nearly 211,000 traders were affected, CoinGlass data showed.
- On Sunday, Bitcoin fell to about $73,500, its lowest level since August, as leveraged traders faced more than $1 billion in forced liquidations. CoinGlass data shows the volatility pushed the cryptocurrency below key moving averages.
- Leveraged traders lost positions during Sunday's volatility, with approximately $913 million in forced long liquidations compounding the sell-off. A sharp rout in U.S. technology shares pressured digital assets amid broader risk aversion.
- U.S. spot Bitcoin ETFs recorded nearly $1.28 billion in net outflows between November 2 and November 6, according to Farside Investors. iShares Bitcoin Trust accounted for roughly $1.21 billion of these withdrawals.
- Bitcoin traded around $74,500 on Monday, struggling to maintain rebounds as sellers returned near resistance levels. Bitcoin remains about 2.5% above its 200-day average of $73,177, while Ethereum slipped roughly 1% below its $2,155 average.
- Investors are now monitoring U.S. Consumer Price Index and Producer Price Index reports due Tuesday and Friday at 8:30 am ET. Analysts suggest these macroeconomic indicators will determine if Bitcoin stabilizes above current support levels.
46 Articles
46 Articles
Bitcoin is showing weakness around the $75,000 level. This is attributed to dampened investor sentiment resulting from growing concerns that cryptocurrency regulations may be tightened following the U.S. midterm elections, coupled with capital outflows from U.S. spot exchange-traded funds (ETFs). As of 8:30 AM on the 10th, according to the global cryptocurrency market data site CoinMarketCap, Bitcoin was trading at $75,191, down 0.35% from 24 ho…
Bitcoin and Ethereum Just Hit Their Lowest Prices Since August After $1 Billion in Liquidations. Where Do Analysts Say They Bottom?
A liquidation cascade just wiped out billions in leveraged bets, and Ethereum has already cracked a level Bitcoin is still defending. Analysts are now arguing over which line decides whether the sell-off ends or the real damage begins.
The bitcoin operates in fall on Monday (9), close to $74,000, amidst a new pressure on the technology sector. Nvidia opened an independent investigation after its CEO, Jensen Huang, admitted an extramarital relationship with an executive who, according to American authorities quoted by the press, is suspected of acting for Chinese intelligence. The chip maker's actions fell by about 5% in the pre-market in New York. At around 10:25, the bitcoin …
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