Liquidations of 90 million dollars in traders due to the fall of Bitcoin
The cryptocurrency reached the zone of 95,000 dollars during the day.
In recent hours, the market of $BTC has experienced a significant collapse. The price of the cryptocurrency, which had been approaching 100,000 dollars again, plummeted to 95,000, dashing hopes for a Christmas rally for this digital currency.
This unexpected decline has led to the liquidation of approximately 90 million dollars in the futures markets of Bitcoin and other cryptocurrencies. Many traders, who had bet on an increase in the value of the asset, found themselves with significant losses.
The fall in the price of Bitcoin may be related to the reopening of the ETF market after the Christmas holiday. Some investors seem to be trying to anticipate the movements expected for the day.
In addition, there is a possibility that an error in TradingView, the most used platform for analyzing financial asset charts, may have contributed to this situation. For a brief period, TradingView incorrectly showed that Bitcoin's dominance in the cryptocurrency market had fallen to zero. Although the error was quickly corrected, it may have triggered panic in the market, as a drop to zero would imply that Bitcoin would have lost all its value, prompting many traders to try to rush out or diversify into altcoins.
Rising Altcoins
If you have noticed that the price of some altcoin has reached record levels in the last week, you will soon discover the reasons behind that rise and other interesting related data.
