Bitcoin

Optimism

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/crypto-market-bloodbath-bitcoin-and-ethers-price-slide-triggers-1b-in-liquidations/">Crypto Market Bloodbath: Bitcoin and Ether’s Price Slide Triggers $1B in Liquidations</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>After closing below a crucial rising trendline on Wednesday, Bitcoin (BTC) price entered a new bearish trend that could take months to rebound. Over $1 billion in the crypto derivatives market was rekt, with more than $835 million from long traders. The Bitcoin derivatives market accounted for the lion’s share with about $493 million liquidated in the past 24 hours. As a result, the total crypto market capitalization dropped by approximately 6.7 percent in the past 24 hours to about $1.1 trillion as of publication time.&nbsp;</p> 
<h2 id="the-crypto-optimism" data-name="the-crypto-optimism" class="wp-block-heading">The Crypto Optimism</h2> 
<p>Despite the sudden crypto dip and more analysts calling for more downward pressure, most investors remained optimistic as a buying opportunity. According to on-chain data analysis provided by market intelligence platform Santiment, the buy-the-dip crypto narrative was at its highest level since April. Reportedly, 0.9 percent of all crypto discussions related to buying the dip in the&nbsp;</p> 
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<h2 id="whales-activity-spikes" data-name="whales-activity-spikes" class="wp-block-heading">Whales Activity Spikes</h2> 
<p>Following the Bitcoin and altcoin dip, which saw XRP price obliterate all the gains made after the historical SEC vs Ripple ruling last month, on-chain data showed a significant increase in whale activity. An on-chain report by Santiment showed that Bitcoin whale transactions spiked to the highest level following the crypto dip.&nbsp;</p> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f433.png" alt="🐳" class="wp-smiley" style="height: 1em; max-height: 1em;"> The dust has far from settled after <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> markets had one of its sharpest price drops of 2023. We are seeing a large amount of $1M+ <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> transactions, indicating whales are very active on this dump. But the amount of large wallets is not falling. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f44d.png" alt="👍" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/WtXYUPdFOf" rel="noopener noreferrer nofollow">https://t.co/WtXYUPdFOf</a> <a href="https://t.co/gdrbUD1wFO" rel="noopener noreferrer nofollow">pic.twitter.com/gdrbUD1wFO</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1692336411150852211?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 18, 2023</a> 
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<p>Notably, the Bitcoin whale activity began before the big dip. Interestingly, the number of Bitcoin addresses holding more than 10 BTCs remained relatively high, meaning whales did not sell their holdings but continued to accumulate.</p>

Crypto Market Bloodbath: Bitcoin and Ether’s Price Slide Triggers $1B in Liquidations

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