fbpx
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Wednesday, October 4, 2023
Online Crypto College
CREATE FREE ACCOUNT
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot
No Result
View All Result
Online Crypto College
No Result
View All Result

Even as $5M worth Bitcoin & alts get rekt, investors remain ‘bullish’; Here’s why

June 13, 2022
in Altcoin
Reading Time: 7 mins read
A A
Even as $5M worth Bitcoin & alts get rekt, investors remain ‘bullish’; Here’s why
ShareShareShareShareShare

At the time of Friday’s close, the crypto market’s valuation stood at $1.65 trillion. Over the weekend, most coins crashed. The fall was initially led by Ethereum as it toppled from over $1730 to the $1300 range. Bitcoin did stabilize around $27k for a while, but on Sunday, it ended up crashing as well.

As a result, for the first time since February last year, the global crypto market cap dipped its toes below the $1 trillion mark. After depreciating by over 6% on the daily window, the value of all crypto tokens stood at $994.2 billion at press time.

Alongside the price dip, the number of liquidations started mounting. Per crypto market data aggregator and analysis platform CryptoRank, Bitcoin and alt positions worth more than $500 million got wiped off over the past 24 hours, with traders from OKX, Binance, and FTX being the most affected.

Bitcoin leads the way, alts follow

As far as the split is concerned, Bitcoin paved the path and singe-handedly registered liquidations worth $212 million. Ethereum was right behind at $160 million. Flamingo, Solana, and Cardano were among the other victims. The same can be evidenced below.

Source: Coinglass

Goes without saying that long traders were hit harder than their short counterparts. Over the past 8 hours alone, $246 million long positions were forcefully closed when compared to the mere $74 million shorts.

Related articles

You Can Now Become a SHIB Millionaire For Only $7

You Can Now Become a SHIB Millionaire For Only $7

October 4, 2023
Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn

Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn

October 4, 2023
Source: Coinglass

Man proposes, God disposes?

Despite the choppy state of the market, all hope wasn’t lost. At press time “bullish” was trending on Twitter and people from the community were talking about a plausible recovery.

Source: Twitter

Talking alone doesn’t work, right? Participants were seen giving life to words by placing bullish bets. With the market continuing to crash, longs on exchanges were speculatively reaching new highs. Per data from TradingView, on Bitfinex alone, the USD BTC value locked on long contracts was close to hitting the $100k mark.

Source: TradingView

Despite the glimmer of hope, it shouldn’t be forgotten that the market tends to swing in the direction opposite to the herd bias. History serves as a testament to the same. With no immediate strong support zone for Bitcoin, it is set to continue drowning before being rescued by buyers. We will discuss the same in another article.

But for now, looks like it is time to recollect the saying, “Man proposes, God disposes” and make peace with it.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Celsius Pauses Withdrawals — Here’s Everything You Need To Know

Next Post

Binance warns of loss of funds for Litecoin transactions that use the MWEB feature

Related Posts

You Can Now Become a SHIB Millionaire For Only $7

You Can Now Become a SHIB Millionaire For Only $7

October 4, 2023

Shiba Inu is currently trading with five ‘zeros’ around $0.00000726. SHIB failed to delete its fifth ‘zero’ despite the launch...

Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn

Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn

October 4, 2023

Ripple’s XRP emerged as one of the rare gainers during a subdued 24 hours in the cryptocurrency market that saw...

SBF Trial: Day 1 concludes without a final jury selected

SBF Trial: Day 1 concludes without a final jury selected

October 4, 2023

The first day of the Sam Bankman-Fried (SBF) trial ended without a final jury being selected, and the process will...

Judge rejects SEC’s request to appeal Ripple decision

Judge rejects SEC’s request to appeal Ripple decision

October 3, 2023

The ongoing legal skirmish between the SEC and Ripple Labs added another chapter as Judge Analisa Torres denied the SEC’s...

Prosecutors say plea deal was never considered for Sam Bankman-Fried

Prosecutors say plea deal was never considered for Sam Bankman-Fried

October 3, 2023

On the opening day of  Sam Bankman-Fried‘s criminal trial in New York,  U.S. government prosecutors told the court that that...

Load More
Next Post
Binance warns of loss of funds for Litecoin transactions that use the MWEB feature

Binance warns of loss of funds for Litecoin transactions that use the MWEB feature

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Is Your Crypto at Risk? FBI Issues Dire Warning Over ‘Phantom Hacker’ – NewsBTC

Is Your Crypto at Risk? FBI Issues Dire Warning Over ‘Phantom Hacker’ – NewsBTC

October 3, 2023
Uniswap Launches on Moonbeam Network, Extending to Polkadot

Uniswap Launches on Moonbeam Network, Extending to Polkadot

October 3, 2023
Brian Armstrong's 2024 Bitcoin Price Prediction: Get Ready for the … – Coinpedia Fintech News

Brian Armstrong's 2024 Bitcoin Price Prediction: Get Ready for the … – Coinpedia Fintech News

October 1, 2023
SEC Delays Decision on Spot Bitcoin ETFs Due to U.S. Government Shutdown Concerns

SEC Delays Decision on Spot Bitcoin ETFs Due to U.S. Government Shutdown Concerns

September 29, 2023
Bitcoin options market sees surge in bullish bets on $45,000 strike price

Bitcoin options market sees surge in bullish bets on $45,000 strike price

September 29, 2023

About Us

We provide the latest crypto news, trading tools, and up-to-date education to students and traders all over the world.

ENROLL FOR FREE

Latest Crypto Headlines

  • Uzbekistan introduces solar-powered crypto mining regulations By … – Investing.com Australia
  • Declining Bitcoin exchange balances show strong holding sentiment
  • Jack Dorsey's Block Shipping New BitKey Bitcoin Wallet
  • Ripple earns Singapore Digital Payment Token Services license
  • You Can Now Become a SHIB Millionaire For Only $7
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$27,403.000.06%
  • ethereumEthereum(ETH)$1,634.23-1.18%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.04%
  • binancecoinBNB(BNB)$211.98-0.85%
  • rippleXRP(XRP)$0.534.53%
  • usd-coinUSDC(USDC)$1.00-0.10%
  • staked-etherLido Staked Ether(STETH)$1,633.58-1.12%
  • solanaSolana(SOL)$23.08-4.62%
  • cardanoCardano(ADA)$0.254996-2.78%
  • dogecoinDogecoin(DOGE)$0.060787-1.40%
  • tronTRON(TRX)$0.0884321.02%
  • ToncoinToncoin(TON)$1.97-2.63%
  • Wrapped stETHWrapped stETH(WSTETH)$1,864.220.34%
  • matic-networkPolygon(MATIC)$0.582.60%
  • polkadotPolkadot(DOT)$4.00-2.75%
  • litecoinLitecoin(LTC)$64.01-2.31%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$27,399.00-0.27%
  • bitcoin-cashBitcoin Cash(BCH)$228.33-3.02%
  • shiba-inuShiba Inu(SHIB)$0.000007-0.74%
  • chainlinkChainlink(LINK)$7.51-1.42%
  • daiDai(DAI)$1.000.01%
  • leo-tokenLEO Token(LEO)$3.751.48%
  • true-usdTrueUSD(TUSD)$1.000.05%
  • avalanche-2Avalanche(AVAX)$9.633.00%
  • uniswapUniswap(UNI)$4.29-3.02%
  • stellarStellar(XLM)$0.1124781.31%
  • moneroMonero(XMR)$148.842.26%
  • okbOKB(OKB)$42.87-0.36%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • binance-usdBUSD(BUSD)$1.00-0.16%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • ethereum-classicEthereum Classic(ETC)$15.49-3.76%
  • cosmosCosmos Hub(ATOM)$6.96-2.99%
  • hedera-hashgraphHedera(HBAR)$0.048671-2.15%
  • filecoinFilecoin(FIL)$3.28-0.69%
  • GGTKNGGTKN(GGTKN)$0.1121310.76%
  • lido-daoLido DAO(LDO)$1.592.23%
  • internet-computerInternet Computer(ICP)$3.173.19%
  • MantleMantle(MNT)$0.405622-1.53%
  • crypto-com-chainCronos(CRO)$0.049961-0.56%
  • makerMaker(MKR)$1,411.91-2.32%
  • quant-networkQuant(QNT)$85.48-3.51%
  • AptosAptos(APT)$5.26-1.99%
  • vechainVeChain(VET)$0.016610-1.99%
  • optimismOptimism(OP)$1.30-3.72%
  • ArbitrumArbitrum(ARB)$0.88-4.03%
  • nearNEAR Protocol(NEAR)$1.08-2.27%
  • KaspaKaspa(KAS)$0.050311-0.10%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%