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    Crypto Downtrend Led Investors To Liquidate Over $432 Million

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    Crypto Downtrend Led Investors To Liquidate Over $432 Million

    crypto basset hound

    The overall financial market is discouraging this week. Stocks and cryptos are plummeting as anticipation of the upcoming rate hike grows. The latest CPI for August was a force that pushed the market towards the edge.  The figure was higher than expected, increasing fear in the industry. As the Feds prepares to hit the market with the biggest rate hike, exchanges have started liquidating leveraged positions. This strategy is geared at cutting down losses as events unfold. Related Reading: WATCH: Bitcoin Bloody Monday Leads To Reversal Hammer | BTCUSD September 19, 2022 Traders’ Positions Liquidated As The Market Panics  Coinglass has disclosed the data of liquidations currently taking place across diverse exchanges. According to the data app, 130,087 traders have seen their positions liquidated. The total amount has reached $431.51 million at the time of writing. Many crypto traders of Bitcoin and Ethereum were hit more in the ongoing frenzy. Bitcoin traders lost $44.5 million of their leveraged positions, while Ethereum traders lost $8.39 million in liquidations.  Going by the positions, the longs took the lead while the short position holders followed suit. According to Coinglass, the amount between the two is 10X, and the highest liquidation so far occurred on Okex.  Data shows that Okex liquidations amounted to $190.41, comprising $181.30million in long positions and $9.11 million in short positions.  The following exchange with high liquidations after Okex is Binance. The exchange liquidated $77.49 million in long positions and $12.99 million in short positions, amounting to $90.48 million.  Other top riders in a frenzy include FTX with $57.59 million in long and short positions and Bitmex with $28.78 million. There is also ByBit and Huobi, with $27.86 million and $18.91 million in total liquidations.  Macro Factors Responsible For Market Downtrend The price movement of assets this week has increased the uncertainty in the crypto market. Many cryptocurrencies are trading in red, with a double-digit downfall in the last 24 hours. The price crash has pushed the overall market capitalization below $1 trillion.  Analysts are attributing the ongoing downtrend to many macroeconomic factors. The most prominent one is the CPI data that shocked everyone on September 13. The data was higher than the market expected, showing inflation still rages.  The effect of the data was seen immediately after its release. The number one crypto, Bitcoin, lost $1000 within minutes. From then onwards, other crypto assets started shedding prices to the detriment of investors.  Another factor seemingly pushing the4 market down is Ethereum Merge. After the upgrade, the crypto price plunged to $1300, leading to many people believing the predictions that it was overhyped.  Related Reading: Ethereum Could Gain 10% Before ETH Resumes Its Reversal Due to the high CPI data, the Fed’s meeting on September 21 is causing panic in the market. The market is waiting for the next interest rate hike, and pundits are already predicting a figure that hasn’t been seen in 40 years. The Feds might move to a 100-point after the meeting.  Currently, both stocks and crypto are strongly bearish. After September 21, the market move might be more terrifying than what it is today, September 19. Featured image from Pixabay and chart from TradingView.com

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    BITGET TUTORIAL: How to Trade Bitcoin with Leverage [COMPLETE Walkthrough & Review]

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    BITGET TUTORIAL: How to Trade Bitcoin with Leverage [COMPLETE Walkthrough & Review]

    🔥 Bitget *$6,888 BONUS* ►► http://cryptozombie.co/BitgetBonus
    Bitget exchange complete step by step Bitget tutorial. How to trade Bitcoin and altcoins using leverage margin trading. This easy to follow Bitget review will show you exactly how to trade profitably and responsibly using limit, market, and conditional orders. Also explained is take profit, stop loss, trailing stop loss, cross and isolated margin, gird trading, copy trading and more. You will learn how to trade BTC, ETH, XRP, EOS, LTC, XTZ, LINK, BGB, and SOL using perpetual swap contracts and USDT or USDC contracts. NOT Bybit, Phemex, PrimeXBT, BitMEX. ❇️ Join Bitget Exchange ►► http://cryptozombie.co/BitgetBonus
    🔥 Get Up To *$6,888 BONUS* (Use Above Link👆) 📈 Trading View Charts *$30 BONUS* ►► https://www.tradingview.com/gopro/?share_your_love=K-DUB
    ————————————————————————————————— ⏰ *Timestamps:* ⏰
    0:00 Intro
    1:35 Create An Account
    1:55 Sign Up Bonus
    2:19 Exchange Overview
    3:20 Deposit Funds
    4:34 Buy Crypto 5:26 Risk Management
    7:05 Types of Trading
    7:36 Spot Trading Fully Explained
    11:20 Futures Trading Overview
    13:35 Fees
    14:20 Transfer Funds Between Accounts
    15:17 Futures Trading Interface
    16:55 Isolated vs Cross Margin
    18:06 Types of Trades/Features
    22:40 How to Execute Trade
    25:20 Market Trade (USDT Short Example)
    28:57 How to Close Trade
    29:19 Like And Share?
    29:47 Limit Trade (BTC Long Example)
    33:51 Strategic Trading
    36:47 FAQ
    37:15 Copy Trading
    38:42 TradingView Charts
    39:35 Withdraw Funds
    40:44 Launchpad
    41:18 Mobile App
    41:41 Referral Bonus
    42:07 Outro ❇️ Join Bitget Exchange ►► http://cryptozombie.co/BitgetBonus ————————————————————————————————— DISCLAIMER: Crypto Zombie is not a financial advisor. This is not financial advice. Everything said in this video is the sole opinion of those who appear in it. The statements in this video are not investment or trading advice. This video is intended solely for educational and/or entertainment purposes only. Always do your own research before investing. Trading cryptocurrencies is extremely risky. Do not trade on any exchange that prohibits trading from your geographical region. Never invest more than you can afford to lose. Crypto Zombie is not responsible for your losses or gains as a result of buying, selling, or trading cryptocurrencies. This video, description and/or comments may contain affiliate links. By utilizing any of the these links you are helping to support the channel as we do receive a commission. Thank you for your support! Watch this video again because it’s awesome: https://youtu.be/SFRkbDz43KE #Bitget #BitgetTutorial #Bitcoin #BitcoinNews #cryptocurrency #altcoins #blockchain #cryptozombie #crypto #btc #bch #bsv #ethereum #eth #ripple #xrp #chainlink #link #solana #sol #bgb $BTC $ETH $XRP $LINK $SOL $BGB

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    Ethereum Loses $1800 Handle – Will Bear Market Pull ETH Down Deeper?

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    Ethereum Loses $1800 Handle – Will Bear Market Pull ETH Down Deeper?

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    During the previous week, the price of Ethereum has stabilized between $2,000 and $1,700. Because of this, the ETH price remained largely unchanged compared to the last seven days and lost 2.5% of its value. While Bitcoin has fallen below the $29K range, Ether has lost its hold on the $1800 handle and is approaching the $1700 support level. In addition, ETH’s price behavior indicates a significant chance of adverse repercussions that might push the cryptocurrency’s value below $1700. If investors are unable to defend the crucial support at $1,700, ETH is more likely to drop to the next major level at $1,450, which is also its January 2018 all-time high. Suggested Reading | Bitcoin Seen Dropping To $22K As Bear Market May Linger For A While When a triangle is established, the price of the cryptocurrency will, on average, break away from the cluster once it has traversed approximately 70 percent of the triangle. Ethereum Bottom Still A Positive Sign Analysts believe Ether’s bottom may be between $1700 and $1800, noting that it’s a positive sign that the cryptocurrency’s local low is so close to its previous ATH because, according to Former Bitmex CEO Arthur Hayes, it indicates “a substantial amount of pain was felt.” Similar to Bitcoin, Ethereum’s price is determined by supply and demand on a global market. As demand exceeds supply and vice versa, the price of ether might fluctuate in the short-term. ETH has traditionally outperformed several traditional assets, like bond indices and major stocks, over the long term. ETH total market cap at $216.6 billion on the daily chart | Source: TradingView.com The market price of Ether has been declining since the $2800 support level was breached by sellers. In May, buyers found it difficult to maintain a market value above $2000. In April, the selling pressure surged tremendously. Bears Can Still Retain Control The current price of Ether is $1,792.50, representing a movement of 0.97 percent over the past 24 hours, Coingecko charts show. Recent Ethereum price activity has resulted in a market capitalization of $212.6 billion dollars. Ether appears weak going forward because it was unable to convert levels of resistance into support. Despite the rally at the end of May, buying pressure is waning, and this could empower bears to seize control. Suggested Reading | Bored Ape Yacht Club Plunges By 60% Last Month Hayes repeated his optimism that Ethereum might reach $10,000 by the end of the year, contingent on a resumption of the bull market, notwithstanding recent market turmoil. Meanwhile, on Friday Ethereum was mentioned in 273,530 of 1,876,360 tweets and Reddit posts. Approximately 157,690 unique persons are actively discussing Ethereum, placing it in second place in terms of the most mentions and activity from collated posts. Featured image from InvestorPlace, chart from TradingView.com

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    Volume on BitMEX Spot Exchange surpasses $10M in 24 hours since launch

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    Volume on BitMEX Spot Exchange surpasses $10M in 24 hours since launch

    crypto basset hound

    BitMEX Spot, the new trading platform to buy and sell crypto launched by one of the world’s largest crypto exchanges, BitMEX, has made a strong entrance in the first days since going live, hitting over $10 million in 24-hour trading volume following the launch. The new spot exchange offers seven cryptocurrency pairs versus Tether (USDT); […]

    The post Volume on BitMEX Spot Exchange surpasses $10M in 24 hours since launch appeared first on CryptoNinjas.

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    Why Bitcoin Could Revisit $27K, Peter Brandt Says

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    Why Bitcoin Could Revisit $27K, Peter Brandt Says

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    Bitcoin is back below $40,000 as the general sentiment in the market seems to turn pessimistic. The first crypto by market cap has been unable to climb back to the $50,000 area and has been moving in a tight range around its current levels. Related Reading | Bitcoin Follows US Stock Dive, Experts Predict $37,500 Price Level Negative predictions for Bitcoin and other larger cryptocurrencies are increasing. The uncertainty around the war between Ukraine and Russia, and the U.S. Federal Reserve (FED) hike in interest rates seem to be the two main catalysts for the weakness in the global market. Legendary trader Peter Brandt seems to favor the short-term bearish thesis. Pseudonym users shared a Bitcoin price prediction with Brandt which suggest the cryptocurrency could revisit critical areas of support below $30,000. This could BTC’s price to $28,000 or $27,000 as soon as May or June this year. This prediction matches that of BitMEX CEO Arthur Hayes. He expects BTC and ETH to crash to $30,000 and $2,000, respectively. As seen below, in the chart presented to Brandt, Bitcoin would drop to its support zone before resuming its bullish momentum into uncharted territory. In the months after that, the first crypto by market cap could rise by about $100,000. Brandt said: Very possible. This has been my guess for many months. We will see. The crypto market is currently correlated with traditional finances. The price of Bitcoin has been moving in tandem with the Nasdaq 100. When big tech stocks show weakness, so does the price of BTC. In that sense, the bearish thesis could find more support in the following chart. Shared by Brandt, it suggests a bigger drop in big tech equities which could impact the price of Bitcoin and put additional selling pressure on the crypto market. Bitcoin Could See Short Term Relief However, traders should take any prediction with a grain of salt especially coming from Brandt or Hayes. They can change their opinions and forecasts if the market conditions support them. For my uninitiated followers on TwitterI'm guided by following principles as chart trader-Strong opinions, weakly held -Flexible, not dogmatic about anything-An opinion is not a position, a position is not an opinion-A chart is not necessarily my opinion https://t.co/WwfqyYgx3O — Peter Brandt (@PeterLBrandt) April 22, 2022 In the short term, Bitcoin has managed to stay at its current levels despite the increase in selling pressure. Data from Material Indicators shows important support below the price. There are over $33 million in bid orders from $39,000 to $38,000 which suggest BTC could bounce back from here in case of future downside price action. To the upside, $41,500 stands as the potential biggest resistance with around $8 million in asks orders. Related Reading | Bitcoin Follows US Stock Dive, Experts Predict $37,500 Price Level As NewsBTC reported, the options market is positioning for a potential crash. There has been an uptick in calls selling for May and June and an increase in demand for put options. In other words, traders are getting bearish.

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