The volume of liquidated trading positions exceeded $ 700 million
- Derivatives market data shows that more than $700 million has been liquidated since bitcoin fell below $40,000 following the fall in the price of coins.
- According to the Coin Telegraph, on Friday, investors faced a fall in the price of Bitcoin, reaching the price floor for the last 6 months.
- A one-hour snapshot of the Bitcoin/Tetra market
Everything you need to know about Bitcoins
$40,000 of optimism is gone.
The data shows that the price of Bitcoin per US dollar fell by $4,000 to $38,250.
At the time of writing, traders are faced with a price of $39,000.
They are surprised by this price drop. This is because the fall occurred just when the price of Bitcoin had reached its highest level in a few days and had crossed the $43,000 range.
With these events, it was predictable that many positions on various trading platforms would be liquidated. In total, bitcoins, and altcoins traded for $725 million overnight last night. Bitcoin's share of these transactions is $292 million.
The vast majority of missed opportunities were long positions, indicating that many believed in the $40,000 area as a safe haven.
A chart of liquidated situations
The main reason for the drop in futures on Friday was about $600 million in open contracts. Analysts say other reasons, such as the ban on the exchange and extraction of cryptocurrency in Russia, have had a relatively small impact on the price drop.
The price of bitcoin could not stay in the range of $42,400 to $42,700 in the long run. So this bomb had to explode for the downward trend to continue and for the price to reach its lowest point, which it did.
The downtrend has been going on for a long time, and some conservative analysts have predicted that the price will reach $30,000 or less in January.
Atrium prices have reached support levels.
- As the price of bitcoin fell, so did the price of altcoins. The ten digital currencies with the highest market value fell by at least 10%, and their efforts to restore prices were insufficient. Of course, except for TERRA, which was able to reduce its price drop to less than 5%.
- Atrium price chart in exchange (one-hour view of the Atrium market/Tetra)
- Atrium also reached critical support levels in the $2,800 range. This range is the lowest price for Atrium since last April. Thus, the weekly loss of the atrium has reached 15%.