Is that the end of $40,000 support? Liquidations mount as Bitcoin fails to reclaim psychological support.
Circling $39,000 at the time of writing, traders were reeling from the sudden downside, which came just as BTC had hit multi-day highs, passing $43,000.across trading platforms were thus predictably significant. For Bitcoin and altcoins combined, 24-hour position unraveling totaled $725 million, with BTC positions accounting for $292 million.
The vast majority of the casualties were long positions, a sign that the area around $40,000 had attracted considerable faith as a solid support line.As Cointelegraph reported, Friday’s options expiry, involving the open interest of nearly $600 million, was
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