A Nvidia board probe shook stocks, and crypto paid the price with 1.12 billion dollars in liquidations. 💥
Cointelegraph reported on 9 November that Nvidia's board launched an independent investigation into whether CEO Jensen Huang was targeted by a foreign intelligence effort, and Nasdaq 100 futures swung between gains and losses on the news. 📊 CoinGlass data shows about 1.12 billion dollars in leveraged crypto positions were liquidated in the 24 hours through 9 am UTC on Monday, with about 913 million dollars of that in longs, led by 448 million dollars in Ethereum and 272 million dollars in Bitcoin, after Bitcoin fell to about 73,500 dollars late Sunday, its lowest since August. My reading is that this was an equity shock plus a leverage flush, not spot whales selling, because the longs were stacked up after the failed hold of 80,000 dollars, and a market that just wiped out its longs usually stays fragile until CPI passes.
Did the flush clear the weak hands, or is another wave waiting below 73,709 dollars? 🤔
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#Crypto #Bitcoin #FuturesTrading #TradingSignals #CryptoNews
Cointelegraph reported on 9 November that Nvidia's board launched an independent investigation into whether CEO Jensen Huang was targeted by a foreign intelligence effort, and Nasdaq 100 futures swung between gains and losses on the news. 📊 CoinGlass data shows about 1.12 billion dollars in leveraged crypto positions were liquidated in the 24 hours through 9 am UTC on Monday, with about 913 million dollars of that in longs, led by 448 million dollars in Ethereum and 272 million dollars in Bitcoin, after Bitcoin fell to about 73,500 dollars late Sunday, its lowest since August. My reading is that this was an equity shock plus a leverage flush, not spot whales selling, because the longs were stacked up after the failed hold of 80,000 dollars, and a market that just wiped out its longs usually stays fragile until CPI passes.
Did the flush clear the weak hands, or is another wave waiting below 73,709 dollars? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #CryptoNews
