Topic: Bitcoin's Dive to 2-Month Low Triggers $1B Liquidation Amidst Market Challenges (Read 50 times)
August 18, 2023, 12:25:56 PM
We cannot concluded on the major causes to this bear market with bitcoin as informations coming from different perspectives on what could have resulted to this dip as people made suggestions that this might have been due to the Fed decision on ETF, some talked about ETH news, while contrary opinions keep popping in to why the recent experience, we should also take note that in the cases of bull market, we don't seem to attribute such to some recent occurence from what the news gives, we only complain the bear market and accept every conditions to bull.
August 18, 2023, 12:22:56 PM
The decline in the pole and flag pattern led to substantial BTCitcoin sell-off, compounded by market factors, coinciding with a $1.05T crypto market cap. BTCitcoin's downfall resulted in $1B liquidation in 24 hours, with BTC accounting for $500M.
That's a lot of folks that have been liquidated and this incident isn't new, Bitcoin has always been volatile and that's why when you're setting a position you have to put a stop loss.BTC's market cap dropped over 7.5% to $505B overnight, as price hovered near $26K. Recent sell-off liquidated $380M in long positions. The pattern disruption plunged BTC below $26K, highlighting $25K as a crucial recovery zone.
despite today's slightly recovery, market sentiments again turned unfavourable, but bulls still have the chance to defend them selves at $25,000 key support zone.
The chance is always there, while Bitcoin has been stagnant for the past months sitting on $29k-$30k~ for quite a while. The chance of it going down have been there and that's what the analyses that I have seen were saying and it actually did now. despite today's slightly recovery, market sentiments again turned unfavourable, but bulls still have the chance to defend them selves at $25,000 key support zone.
August 18, 2023, 11:53:44 AM
The decline in the pole and flag pattern led to substantial BTCitcoin sell-off, compounded by market factors, coinciding with a $1.05T crypto market cap. BTCitcoin's downfall resulted in $1B liquidation in 24 hours, with BTC accounting for $500M.
BTC's market cap dropped over 7.5% to $505B overnight, as price hovered near $26K. Recent sell-off liquidated $380M in long positions. The pattern disruption plunged BTC below $26K, highlighting $25K as a crucial recovery zone.
despite today's slightly recovery, market sentiments again turned unfavourable, but bulls still have the chance to defend them selves at $25,000 key support zone.
BTC's market cap dropped over 7.5% to $505B overnight, as price hovered near $26K. Recent sell-off liquidated $380M in long positions. The pattern disruption plunged BTC below $26K, highlighting $25K as a crucial recovery zone.
despite today's slightly recovery, market sentiments again turned unfavourable, but bulls still have the chance to defend them selves at $25,000 key support zone.
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