Bitcoin’s dive under $27K liquidates $100M — So why aren’t margin traders flipping bearish? By Cointelegraph
May 13, 2023
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Bitcoin’s price (BTC) broke below its 55-day support at $27,000 on May 12. In result, the two-day, 7% correction to $26,155 caused $100 million worth of long BTC futures contracts to be liquidated.
However, margin and futures markets displayed strength during the down-move, fueling hope of a recovery toward $28,000.
Continue Reading on Coin Telegraph
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© Reuters
Bitcoin’s price (BTC) broke below its 55-day support at $27,000 on May 12. In result, the two-day, 7% correction to $26,155 caused $100 million worth of long BTC futures contracts to be liquidated.
However, margin and futures markets displayed strength during the down-move, fueling hope of a recovery toward $28,000.
Continue Reading on Coin Telegraph
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