Bitcoin and Ethereum Just Hit Their Lowest Prices Since August After $1 Billion in Liquidations. Where Do Analysts Say They Bottom?
- 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.
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77 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 Under $76,000 After $430M ETF Outflows. Has It Bottomed?
A rare 4-sigma stock market rout dragged Bitcoin down while every spot ETF issuer watched cash walk out the door. One small bounce has traders split on whether the worst is over, and a single price line may settle it.
Bitcoin ETF inflows return as US crypto legislation faces delays
Bitcoin’s post-election recovery and renewed ETF inflows suggest institutional interest remains intact, even as analysts warn that a Democratic-controlled Congress could delay US cryptocurrency legislation. Ryan Kirkley, co-founder and CEO of Global Settlement Network, told crypto.news that the midterm results…
Bitcoin ETFs Gain $75M Despite BlackRock IBIT Outflows
US-listed spot Bitcoin and Ether exchange-traded funds (ETFs) snapped their outflow streaks on Wednesday as cryptocurrency markets rebounded following the US midterm elections. Bitcoin (BTC) ETFs attracted $74.6 million on Wednesday, while Ether (ETH) funds added $53 million, according to SoSoValue data. The turnaround ended three consecutive trading sessions of Bitcoin ETF outflows totaling $1.16 […]
Bitcoin operates in a slight fall on Tuesday (3), at $77,000, still without recovering the levels prior to the attack on Binance last week. In this session, however, the pressure comes mainly from the new fall in technology actions and the strong exits of ETFs in view of cryptocurrency in the United States. At around 10:30 a.m., bitcoin fell 0.6% in 24 hours, to $77.666.37, according to CoinGecko. In Brazil, it was negotiated R$425.543.22, pract…
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