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$BNB $BTC $SOL #TrendingTopic #RNDR ##BTC.😉. #ai #BinanceBound Bitcoin bounces back from Tuesday’s sell-off
“Yesterday seemed like a bullish sharp correction to me, which is fairly typical when you reach a multiyear all-time high,” said Enclave Markets CEO David Wells.
“There will probably be a second test of the highs, and if we break through that, it could get interesting given the large options positions,” he added. “These melt ups include sharp corrections likely related to leveraged long momentum positions taking gains at key levels then getting back in lower.”
As of Wednesday morning, $100 million in short liquidations and $236 million in long liquidations occurred across centralized exchanges over the previous 24 hours, according to CoinGlass.
When traders use leverage to short bitcoin and the cryptocurrency’s price rises, they buy bitcoin back from the market to close their positions, which pushes the price up and causes more positions to be liquidated.
“Initially, it looked like this was primarily a spot-driven profit-taking move as open interest in perpetual futures didn’t come down, nor did their corresponding funding rates come off,” said David Duong, head of institutional research at Coinbase. “But then, the price action caught up to some sizable long liquidations and reset the market. I don’t think we’ll see another large drop like this in the short-term, barring a major exogenous shock.”
Other crypto coins rebounded with bitcoin and ether. Binance coin surged 12%, while Solana advanced 9.5%. Meme coins were the biggest gainers, with dogecoin up 18% and Shiba Inu coin jumping 21%.
Crypto-related stocks rose, too. Coinbase and Microstrategy gained 10% and 18%, respectively. Cipher Mining surged 27%, while Iris Energy and CleanSpark gained 6% and 8%, respectively. Among the largest miners, Marathon Digital inched higher by 1.6% and Riot Platforms edged lower by 1%.
“Yesterday seemed like a bullish sharp correction to me, which is fairly typical when you reach a multiyear all-time high,” said Enclave Markets CEO David Wells.
“There will probably be a second test of the highs, and if we break through that, it could get interesting given the large options positions,” he added. “These melt ups include sharp corrections likely related to leveraged long momentum positions taking gains at key levels then getting back in lower.”
As of Wednesday morning, $100 million in short liquidations and $236 million in long liquidations occurred across centralized exchanges over the previous 24 hours, according to CoinGlass.
When traders use leverage to short bitcoin and the cryptocurrency’s price rises, they buy bitcoin back from the market to close their positions, which pushes the price up and causes more positions to be liquidated.
“Initially, it looked like this was primarily a spot-driven profit-taking move as open interest in perpetual futures didn’t come down, nor did their corresponding funding rates come off,” said David Duong, head of institutional research at Coinbase. “But then, the price action caught up to some sizable long liquidations and reset the market. I don’t think we’ll see another large drop like this in the short-term, barring a major exogenous shock.”
Other crypto coins rebounded with bitcoin and ether. Binance coin surged 12%, while Solana advanced 9.5%. Meme coins were the biggest gainers, with dogecoin up 18% and Shiba Inu coin jumping 21%.
Crypto-related stocks rose, too. Coinbase and Microstrategy gained 10% and 18%, respectively. Cipher Mining surged 27%, while Iris Energy and CleanSpark gained 6% and 8%, respectively. Among the largest miners, Marathon Digital inched higher by 1.6% and Riot Platforms edged lower by 1%.
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FTX and BlockFi reach tentative settlement for up to $874 million: CNBC Crypto World
CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Alex Taub, CEO and co-founder of Truth Arts, explains how his company is helping turn non-fungible tokens into something that could generate value for NFT holders in the future.
#FTX. #FTX.Trading.Ltd #BTC/USDT: $BTC $ETH $BNB
CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Alex Taub, CEO and co-founder of Truth Arts, explains how his company is helping turn non-fungible tokens into something that could generate value for NFT holders in the future.
#FTX. #FTX.Trading.Ltd #BTC/USDT: $BTC $ETH $BNB
Celo blockchain is a decentralized platform aiming to make financial tools accessible to anyone with a smartphone. It enables fast, secure, and stable digital payments across the globe. Developed by the Celo Foundation, it utilizes a proof-of-stake consensus mechanism to validate transactions and supports various stablecoins pegged to different fiat currencies. It's an intriguing concept, don't you think?
#binancecelo
#celo
#Halving!
#binancecelo
#celo
#Halving!
Unbelievable opportunity for new commer .Grab this .
#TrendingTopic #USDT #RNDR #NEAR #ai $BNB $SOL $ETH
#TrendingTopic #USDT #RNDR #NEAR #ai $BNB $SOL $ETH
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1️⃣ Join our community.
2️⃣ Like and share this post.
3️⃣ Comment "Done."
4️⃣ Crucially, explore our pinned post for an exclusive 3 USDT Reward.
🤝 Your support fuels our mission, enabling us to provide top-notch investment insights. 📈🚀 #TrendingTopic! #BTC #ellonmask #Write2Earnn #PortalTrading $ETH 🌐📈
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High level Airdrops for grabs
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High level Airdrops for grabs
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Bitcoin Halving
In the depths of ancient times, there exists a story shrouded in mystery and uncertainty - a tale that transcends the boundaries of time and space. It is a story of abundance and scarcity, of miners and rewards, and it is known as the Bitcoin Halving.But what is this enigmatic event, you may ask? Let me take you on a journey, a voyage through the mists of time, as we uncover the secrets behind the Bitcoin Halving.In the realm of digital currencies, Bitcoin stands as a beacon of hope, a decentral
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DogeArmyComeBack
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📈Dogecoin to $12? Investor Says This Coin Below $0.10 Will Reach That Price Even Before DOGE Clears $1🦄
Why Dogecoin’s $12 Target Is Far-Fetched
Beyond its popularity and well-known supporters, Dogcoin’s path to $12 is full of challenges. Being a meme-based cryptocurrency, DOGE has sometimes been driven more by social media attention than by inherent technical worth or usefulness. Though its trading volume has stayed strong, there is no obvious market value estimate or use that might drive its price to historically extraordinary levels of $12. Dogecoin battled to top $0.75 even at the height of the 2021 crypto bull run, and it has subsequently settled in lower values. The price of the coin now is somewhat constant, much below past highs. Furthermore, lacking in DeFi and utility-based growth engines driving other cryptocurrencies is Dogecoin. Expecting Dogecoin to hit $12 seems more improbable without these fundamental elements.
Rexas Finance’s Potential to Hit $12 Before Dogecoin Reaches $1
The ambitious project plan and fast presale performance of Rexas Finance make it fit to reach important price benchmarks. Not unusual in the cryptocurrency space, Rexas Finance would have to rise 171-fold from its present $0.07 presale price to reach $12. Rexas Finance is positioned to maintain a steady increase with its utility-orientated approach and outstanding presale numbers. By contrast, dogecoin would have to rise more than six times to get to $1. Given its present price of $0.16 and a 24-hour trading volume devoid of any price movement, Dogecoin’s ascent to $1 looks difficult. With its usability and presale momentum, Rexas Finance is more likely to realize exponential growth that might propel it to double-digit values in the foreseeable future.
#DogeArmyComeBack #FedRateStrategy
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