There’s a Bitfinex “Whale” Looking to Buy Bitcoin in the High-$8,000s

It’s been a tough past few days for Bitcoin. After holding $9,300 for days on end, the cryptocurrency on Saturday slipped under $9,000. The leading cryptocurrency reached a local low of $8,840 on many leading spot and margin exchanges. Many traders were caught off guard by this move to the downside. At least $20 million worth of longs on BitMEX alone were liquidated during this drop. This adds to the approximately $50 million in longs liquidated across the past few days. BTC position liquidation chart for BitMEX from crypto derivatives tracker Buyers seem to be stepping in, though, providing Bitcoin with a boost as it enters a crucial price region. Read More...

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