Bitcoin Price Dips Below $60,000, More than $8 Million Longs Liquidated - Decrypt
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Bitcoin slipped below $60,000 for the first time since late June, wiping out $8.4 million worth of long contracts in just the past hour, according to Coinglass. The pain is being felt by Ethereum derivatives traders, as well. Roughly $8.8 million worth of long ETH contracts have been wiped out in t
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- Bitcoin slipped below $60,000 for the first time since late June, wiping out $8.4 million worth of long contracts in just the past hour, according to Coinglass.
- The pain is being felt by Ethereum derivatives traders, as well. Roughly $8.8 million worth of long ETH contracts have been wiped out in the past hour.
- Markets have been bracing for the potential impact of repayments to creditors from the Mt. Gox trustee, which has been overseeing the defunct exchange's bankruptcy process. There's upwards of 14,000 Bitcoin that could start making its way back into the hands of early adopters who have been waiting a decade for their BTC.
- Investors have been in a risk-off holding pattern—preferring treasury bonds over riskier assets like stocks and cryptocurrency—while the Federal Open Markets Committee has kept the target interest rate at 5.25% to 5.50% since July 2023.
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