• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: How Uniswap Was Deployed On The Binance Smart Chain
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: How Uniswap Was Deployed On The Binance Smart Chain
bitcoin

Crypto Carnage: $100 Million in Bitcoin Longs Liquidated in Minutes

Nick Chong by Nick Chong
3 years ago
in Bitcoin
Reading Time: 1 min read
Advertisement

The crypto market carnage has not stopped since NewsBTC’s last market update: Bitcoin, as of the time of writing this, is trading at $8,700, having traded as low as $8,620 (on some exchanges) just minutes ago as selling overwhelmed the market.

This move from around $9,000 to $8,600 in just a few minutes’ time, per data from Skew.com that was subsequently shared on online forums, liquidated $108 million worth of BitMEX longs. The Open Interest of BitMEX’s book has dropped dramatically, showing how longs are currently being punished for attempting to long prices in the $9,000s.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

$108M longs liquidated in the past hour pic.twitter.com/y2Ck7t9gu2

— Mac ❄️? (@MacnBTC) February 26, 2020

The analysis from the previous report still stands: Bitcoin is currently in an extremely important zone from a technical analysis perspective, for around the current price exists a convergence of support levels that have been historically relevant.

For those who missed the last update, prominent analyst Filb Filb, amongst other traders, have said that mid-$8,000s are crucial for bulls to hold moving forward. Filb Filb wrote:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

“Downside targets [of] the 200-day moving average, 20-week moving average, and 50-week moving average seem good for a bounce, but the 200-day moving average is never really lost in a bull run, so losing that could be more of a significant issue. Nevertheless, I’m looking for longs down there.”

For some much-needed context, the moving averages for Bitcoin are as follows:

  • The 200-day moving average is around $8,800.
  • The 20-week moving average is at $8,500.
  • And the 50-week moving average is around the same as the 20-week moving average.

 

Featured Image from Shutterstock
Tags: bearishbitcoinBitMEXliquidation
Tweet123Share230ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
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.

Related Posts

Bitcoin To $30,000? Fed Unveils New Tool To Bailout Non-US Banks

Bitcoin To $30,000? Fed Unveils New Tool To Bailout Non-US Banks

4 hours ago
Bitcoin Market Dominance Hits 9 months High as Altcoins Turn Red

Bitcoin Market Dominance Hits 9-Month High As Altcoins Turn Red

23 hours ago
Bitcoin Bull

Bitcoin Bullish Signal: NUPL Is Forming A Golden Cross

3 days ago
Bitcoin

Analyst Warns: Bitcoin Price Surge Above $26,000 Could Trigger Volatility Eruption

3 days ago
Bitcoin

Bitcoin Binary CDD Approaches Breakout That Historically Kicked Off Bull Rallies

3 days ago
Bitcoin shorts

Total Liquidations Cross $150 Million As Bitcoin Climbs Above $26,000

3 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

New Meme Project Love Hate Inu Raises $1 Million & Enters Stage 2 of Presale

March 20, 2023

TMS Network (TMSN) Holders Enjoy Gains in Presale Attracting New Investors from PancakeSwap (CAKE) And Algorand (ALGO)

March 20, 2023

USD Coin (USDC) And Cardano (ADA) Suffer Losses While TMS Network (TMSN) Explodes in Presales

March 20, 2023

TMS Network (TMSN) Emerges as the New Favorite of Investors, Leaving Filecoin (FIL) and Arweave (AR) in the Dust

March 20, 2023

Orbeon Protocol (ORBN) Emerges as a Potential Web3 Unicorn, Posing a Challenge to Axie Infinity (AXS) and PancakeSwap (CAKE)

March 20, 2023

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.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 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.