After the midterm election results came in, prices suddenly took a hit late in the weekend session. Reuters reported that the market was concerned regulation would tighten if Democrats took control of Congress. $BTC briefly fell to 73708, its lowest level since August; the low I saw on my end was 73510, and it has now bounced back to around 75000. $ETH was weaker, down about 4.5% over 24 hours, with a current price of 2134.
The derivatives market saw liquidations as leverage was flushed out. BTC and ETH liquidations totaled more than 700 million over the past day, with long positions accounting for the vast majority. For now, I’m treating this sell-off as deleveraging and won’t rush to buy the dip.
Source: Reuters
#BTC #ETH
The derivatives market saw liquidations as leverage was flushed out. BTC and ETH liquidations totaled more than 700 million over the past day, with long positions accounting for the vast majority. For now, I’m treating this sell-off as deleveraging and won’t rush to buy the dip.
Source: Reuters
#BTC #ETH