Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Bitcoin’s drop below $64,000 led to over $440 million in losses for futures traders, with significant liquidations on Binance and OKX exchanges.
Major cryptocurrencies like Ethereum, Solana, and Dogecoin also suffered losses, with expectations of bitcoin falling further to $55,000 amidst record-high outflows from Grayscale’s GBTC.slump to under $64,000 caused over $440 million in liquidation for crypto futures traders betting on higher prices. Some traders expect bitcoin to reach the $55,000 level in the short term.Data shows that the most liquidations took place on Binance at $212 million, followed by OKX at $170 million.
Meanwhile, some traders said they expected bitcoin to fall to as low as $55,000 in the coming weeks, even as they have a long-term bullish outlook. “The pace of the recent appreciation makes forecasting when the correction will complete difficult, but I do look for a move lower to $55-$62k before the next leg up,” John Glover, Chief Investment Office at Ledn, told CoinDesk in an email.
“The retail players are just starting to enter the BTC ETFs en masse, and the next big entry is set to coincide with the halving, so things should get interesting in a month or so,” Glover added.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Trader Sees Prices Slumping to $60K as Crypto Bulls See $650M in LiquidationsShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Read more »
Coinbase Exec Sees Crypto Rivaling Visa as 117 Million Transactions Hit BlockchainsCryptocurrency industry is seeing unparalleled growth and transaction volume
Read more »
Dem Touted Her Pro-Crypto Stance—Then Big Crypto Sent Her Campaign to the MoonJulie Johnson is running for Congress in a tough Texas primary. Lucky for her, she added pro-crypto language to her website and big crypto interests got behind her.
Read more »
El Salvador Has Thousands More Bitcoins Than Previously KnownDanny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.
Read more »
Crypto AI Tokens in Focus as DOGE, SHIB Rally Starts to EaseShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Read more »
Park Hyung Sik Is Wracked With Guilt After Park Shin Hye Falls Unconscious In “Doctor Slump”Park Hyung Sik Is Wracked With Guilt After Park Shin Hye Falls Unconscious In “Doctor Slump”
Read more »