Crypto Sell-Off: Binance, Coinbase, Dump Over $2 Billion In Bitcoin As Prices...
The cryptocurrency market experienced another wave of liquidations on Friday, with Bitcoin (BTC) prices dipping below the critical support level of $90,000. This decline followed a brief rally that had seen its price rise approximately $3,000 above this threshold earlier in the week. Crypto Market Faces $430 Million In Liquidations Data from CoinGlass reveals that […]
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Bitcoin is steady when writing, floating above immediate support levels and inches away from reclaiming the all-important local liquidation line at around $66,000. Even as the broader crypto community expects buyers to step in and push prices higher, there are exciting developments that buttress this outlook. Billions Worth Of BTC Pulled From Exchanges According to exchange data shared by one analyst on X, BTC holders increasingly pull their coins from exchanges. On July 5, when prices tanked, pushing the world’s most valuable coin close to $50,000, a staggering $3.8 billion BTC was....
Cryptocurrencies such as BNB and FTT have been seeing some downside in the last 24 hours. This follows an eventful weekend that has culminated in what has been a clear intention of crypto exchange Binance to begin dumping its FTT holdings. As a result, there is expected to be a reaction from both FTT and BNB when the exchange completes the dumping of its billion-dollar holdings in FTT. Binance Pulls Out Of FTT Social media was lit afire when Binance CEO Changpeng Zhao (CZ) said that the crypto exchange had decided to liquidate its FTT position. Now, Binance had been an incubator for the....
Data shows the Bitcoin Coinbase premium gap has surged up to positive values, suggesting that buying from investors on the exchange could be behind the pump to $22k. Bitcoin Coinbase Premium Gap Observes Sharp Rise To Positive Values As pointed out by an analyst in a CryptoQuant post, after many months of negative values, the Coinbase premium gap is now above zero. The “Coinbase premium gap” is an indicator that measures the difference between the Bitcoin price on Coinbase Pro (USD pair) and the value on Binance (USDT pair). Since Coinbase is popularly used by US investors....
The United States cryptocurrency exchange has seen its stock price plunge in lockstep with Bitcoin, Ether and the broader digital asset market. Shares of Coinbase Global Inc. (COIN) have been downgraded by analysts at Goldman Sachs after plunging cryptocurrency prices affected the exchange’s underlying business, underscoring the challenges posed by the bear market. The reason for the downgrade stems from the “continued downdraft in crypto prices,” Goldman analyst William Nance said in a note that was obtained by Bloomberg. The analyst said Coinbase “will need to make substantial reductions....
Data shows the Bitcoin Coinbase Premium Gap has witnessed a spike, a sign that American investors may be buying at post-dip prices. Bitcoin Coinbase Premium Gap Has Seen A Sharp Positive Spike In a new post on X, CryptoQuant community analyst Maartunn has talked about the latest trend in the Bitcoin Coinbase Premium Gap. This metric measures the difference between the Bitcoin price listed on Coinbase (USD pair) and that on Binance (USDT pair). The indicator tells us about how the buying or selling behavior differs between the userbases of the two platforms. The former is the main platform....