Bitcoin tests $ 12,000 and crashes

| |

On the morning of Sunday, August 2, the price of bitcoin overcame the $ 12,000 mark during trading, but did not stay above it. Within a few minutes, the quotes of the leading cryptocurrency fell to the level of $ 11,200.

Source: TradingView

At the moment, bitcoin fell below $ 11,000.

The sharp price movement led to a cascade of liquidations of positions on crypto derivatives exchanges. On BitMEX, liquidation volume was $ 147 million per hour.

Source: Skew

The total volume of liquidated positions in crypto derivatives during the fall exceeded $ 1 billion.

According to The Block analyst Larry Chermak, open interest in bitcoin futures has dropped by $ 107 million over the past 24 hours on BitMEX. The figure has also decreased by more than $ 50 million on OKEx, Huobi and Binance.

All leading cryptocurrencies have collapsed in sync with Bitcoin. At the time of writing, only XRP and Ethereum (ETH) remain in the green zone for the last 24 hours. The price of the latter fell from above $ 400.

Source: TradingView

Source: CoinGecko

Recall above $ 11,000 bitcoin rose July 28, and Saturday, August 1, quotes updated annual maximum, breaking $ 11,500.

Subscribe to ForkLog news on Telegram: ForkLog Feed – the entire news feed, ForkLog – the most important news and polls.

Found a mistake in the text? Select it and press CTRL + ENTER



NBA: Anthony Davis will continue the season with the New Orleans Pelicans – basketball – NBA

Xiaomi will release its first wireless noise canceling headphones –


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.