NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

$40 Million in BitMEX Longs Wiped Out as Bitcoin Plunges on “Satoshi Dumping” Fears

Nick Chong
Nick Chong
1 year ago
2 mins read
Bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

It’s been a brutal past 120 minutes for the Bitcoin market.

After holding the $9,800 support for 48 hours, the cryptocurrency began to dive lower approximately two hours ago. From its $9,800 perch, the flagship crypto-asset fell as low as $9,100 on leading Bitcoin exchange Bitstamp — a drop of over 7%. The price has since stabilized around $9,400.

Chart from TradingView.com
Chart from TradingView.com

This was a crash that few traders anticipated.

According to data shared by crypto derivatives tracker Skew.com, over $40 million worth of BitMEX long positions were liquidated during this dump lower. Notably, Bitcoin only fell as low as $9,300 on BitMEX compared to $9,100 on Bitstamp, preventing millions more in liquidations.

Liquidations on the BitMEX Bitcoin futures market from Skew.com.
Liquidations on the BitMEX Bitcoin futures market from Skew.com.

Fears That Satoshi is “Dumping Bitcoin”

Bitcoin’s recent weakness coincides with news that an ancient BTC address, from early 2009, just made an outgoing transaction of 10 coins out of 50 coins. The address involved is from February 2009, and the 50 coins that originally were in the address were obtained by the mining of one BTC block.

Due to the proximity of this address’ age to the launch of the Bitcoin network in January 2009, many were quick to speculate that this is “Satoshi dumping his coins.” For reference, the creator of the cryptocurrency Satoshi Nakamoto is believed to hold over one million coins, obtained by mining over BTC’s first and second years in existence.

“Expect serious volatility. Yeah, panic selling going on,” one trader wrote on the transaction.

The claims that this transaction is related to Satoshi Nakamoto have largely been disproven by chain analysis firms like Glassnode and Coin Metrics through its founder Nic Carter.

Though this reassurance hasn’t resulted in Bitcoin rocketing back up to pre-crash levels, as fears remain that an early BTC holder will dump thousands of coins on the open market.

Related Reading: Crucial On-Chain Metrics: BTC on the Verge of Its Fourth Macro Bull Market

Start of a Larger Reversal

While the movement of “old BTC” was a market catalyst that no one expected, some expect it to be the start of a larger reversal in this nascent market.

As reported by NewsBTC, a trader recently identified four market trends as to why Bitcoin could sustain a “dip” towards the $8,800-9,100 region. They are as follows:

  • There is a growing block of resistance in the $9,900-10,600, which could halt any rally trying to surmount this region. Estimates suggest there are dozens of millions of sell orders at that level.
  • The funding rates of Bitcoin futures contracts have risen well above zero, indicating a potential market top.
  • The “BTC Fear and Greed” index is nearing a two-month high.
  • Spot trading of BTC has decreased over recent weeks, signaling slowing momentum.
Related Reading: Turkey’s Economic Turmoil Shows BTC Is a Better Bet Than Emerging Markets
Featured Image from Shutterstock
Tweet123Share206ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

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

Leave a Reply Cancel reply

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

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Top crypto analist: het ideale Dogecoin koopmoment voor kans op 200% rally

Top crypto analist: het ideale Dogecoin koopmoment voor kans op 200% rally

Een top crypto analist heeft op Tradingview zijn licht laten schijnen op de Dogecoin koers. Volgens SwallowAcademy kunnen we binnenkort...

Lars Diederiksen 6 hours ago
Ethereum Wyckoff Accumulation Hints At Explosive Q3 – $4K Level In Sight

Ethereum Wyckoff Accumulation Hints At Explosive Q3 – $4K Level In Sight

Ethereum is trading just above the $2,500 mark following days of volatility, choppy price action, and uncertainty across crypto markets....

Sebastian Villafuerte 6 hours ago
Bitcoin

Analyst Shares Bitcoin Cheat Sheet Showing When The Bull Run Begins

Bitcoin has held steady around the $108,000 price level in recent days. After bouncing back from a brief pullback near...

Scott Matherson 13 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin’s True Value Is Higher Than $110,000, Expert Warns

Christian Encila 1 hour ago
Bitcoin

Bitcoin Consolidation Continues: 2 Key Support Levels To Watch

Semilore Faleti 2 hours ago
DOGE

DOGE Bulls Hold The Line At $0.15 — Is The Rally Still Alive?

Semilore Faleti 4 hours ago

Premium Sponsors

Press Releases

  • Cryptocurrency is the best way to get rich quickly, easily...

    11 hours ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    19 hours ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    23 hours ago
  • 3 altcoina koje vrijedi pratiti u prvom tjednu srpnja 2025

    23 hours ago
  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.