Bitcoin derivatives data reflects traders’ mixed feelings below $17,000

Bitcoin derivatives data reflects traders’ mixed feelings below $17,000


Bitcoin (BTC) lost 25.4% in 48 hours, bottoming at $15,590 on Nov. 9 as investors rushed to exit positions after the second largest cryptocurrency exchange, FTX, halted withdrawals. More importantly, the sub $17,000 levels were last seen almost two years prior, and the fear of contagion became evident.

The move liquidated $285 million worth of leverage long (bull) positions, leading some traders to predict a potential downside of $13,800.

What an exciting time to be alive! Loving the volatility these elites are creating! They really wana buy LOW before the next bull cycle! Thank goodness we were ready months in advanced!

Are we gona hit that 13k target? Who cares, its a huge buy opportunity long term! $BTC #BTC pic.twitter.com/2v0ThmIoNG

Trending: Ho–Ho–Ho! Hundreds of Employees At Fake News CNN Get the Axe Only Weeks Before Christmas

— JD (@jaydee_757) November 14, 2022

As described by independent

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