On-chain analysts explain why Bitcoin suddenly dropped 16% in 6 hoursBTC $31,406 (-3.3%) • ETH $1034 (+13.7%) • XRP $0.23 (+3.3%)
Ad: SwissBorg — One app. 4 exchanges. Best rates. Download the App →
The price of Bitcoin declined by 16% in six hours after an explosive rally to above $34,000. The correction occurred as the derivatives market became extremely overheated. The Bitcoin futures market can become overcrowded if the market is dominated by either short-sellers or buyers. If either one overwhelms the market, then the probability of a short or a long squeeze occurs. This can create an extreme spike in volatility in a short period. Ad 📈 Earn 8% APY on Bitcoin & 9 more crypto assets and 12% on Fiat & Stablecoins. Compounding interest, paid out daily. Trending … 🚜 DeFi Tokens • 🔮 Oracle Tokens • 📈 Biggest Gainers • 💵 Stablecoins More news ⏬Level-2 scaling project Loopring (LRC) shoots over 50% higher amid Ethereum network congestionAs the entire crypto market has slingshotted higher over the past day, the Ethereum network has become congested. XLM bumps to $0.15 as Ukraine selects Stellar for its CBDCStellar, the world’s 14th-largest cryptocurrency, was selected by the European country for the latter’s upcoming state-backed digital currency. Bitcoin price jumps above Dow Jones Index (DJI) while Ethereum nears $1,100Two of the world’s largest cryptocurrencies by market cap set new records over the weekend. SushiSwap (SUSHI) trading volumes hit fresh all-time high as DeFi market heats upIt appears that the decentralized finance (DeFi) boom is back after a multi-week hiatus. Ethereum (finally) takes the lead with a 25% rally as Bitcoin stalls at $33,000While Ethereum appreciated over December, the leading altcoin has largely underperformed Bitcoin. Crypto market cap reaches ATH of $883 billion—is an alt season coming?The market capitalization of all crypto assets in the global market combined have reached an all-time high above $883 billion. Here’s how the Parity Ethereum hacker is cashing out his fundsIf you were around in 2017, you likely remember the Parity wallet hack. Dogecoin (DOGE) surges over 100% as Bitcoin bull run takes BTC to $33,000Bitcoin has exploded higher over the past 24 hours yet again, moving higher rapidly after passing the $30,000 price resistance level. Paxful’s Ray Youssef on the Bitcoin hustle and why Africa leads crypto adoption
Ray Youssef is a man on a mission. And he isn’t chasing token scams, pump and dumps, or the next hot DeFi project. Instead, he’s at the helm of one of the world’s biggest and oldest crypto exchange platforms, Paxful. The firm has been around since 2015 and allows users to buy and sell Bitcoin instantly in over 300 ways via its leading peer to peer marketplace. Control your wealthAd: A trusted and accessible wealth management ecosystem powered by blockchain technology, SwissBorg puts your wealth back in your hands. 🗞 Got a story tip? Email tips@cryptoslate.com Crypto market dataFor more pertinent market data, please see: Connect with usDisclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to the content within this article.
If you liked this post from CryptoSlate, why not share it? © 2021 Zenzio Incorporated Unsubscribe
|
