🟠BITCOIN SCENDE SOTTO I 59.000
Giorno: 04 luglio | Ora: 10:57 Il prezzo del bitcoin è sceso sotto i 59.000 dollari a causa delle preoccupazioni per la pressione delle vendite derivanti dai rimborsi di Mt. Gox e dalle possibili vendite di miner. La ripartizione ha coinvolto anche altre criptovalute come ether e Solana. La società di trading QCP Capital prevede un mercato debole nel prossimo trimestre a causa dell'incertezza legata alla distribuzione dei bitcoin di Mt. Gox. Le vendite forzate nelle negoziazioni future hanno causato liquidazioni per oltre 230 milioni di dollari nelle ultime 24 ore.
The price of Bitcoin has dropped below $59,000 due to concerns over selling pressure from Mt. Gox refunds and potential miner sales. The sell-off has also affected other cryptocurrencies like ether and Solana. Trading firm QCP Capital predicts a weak market in the next quarter due to the uncertainty surrounding the distribution of Mt. Gox's bitcoins. Forced sales in futures trading have led to liquidations of over $230 million in the past 24 hours.
Fears of sell pressure from Mt. Gox repayments and possible miner sales led to bitcoin dropping below $59,000, with major tokens like ether and Solana's SOL also declining.
Trading firm QCP Capital anticipates a subdued market in the next quarter due to uncertainty around the Mt. Gox bitcoin supply release.
Fears of looming selling pressure on bitcoin (BTC) from defunct exchange Mt. Gox and possible miner sales pushed the largest cryptocurrency to under $59,000 on Thursday for the first time since late April.
Mt. Gox will start distributing assets stolen from clients in a 2014 hack in July 2024, after years of postponed deadlines. The repayments will be made in bitcoin and bitcoin cash (BCH), and could add selling pressure to both markets, as previously reported.
BTC lost 3.3% in the past 24 hours, CoinGecko data shows, with the sell-off beginning shortly after Tokyo equity markets opened for trading. Major tokens declined amid the BTC weakness: Ether (ETH) slumped 4%, while Solana’s SOL, and dogecoin (DOGE) fe;; as much as 8%.
The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens, is down 4.8% in the past 24 hours.
Futures trades betting on higher prices lost over $230 million in the past 24 hours, liquidations data tracked by CoinGlass shows. BTC and ETH-tracked futures saw over $60 million in long liquidations a piece, while products tracking DOGE, SOL, XRP, and pepe coin (PEPE) recorded at least $4 million in losses.
For long traders, these liquidations were the highest since late June. Crypto exchange Binance took over $110 million in liquidations, the most among counterparts.
Liquidations occur when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. It happens when a trader cannot meet the margin requirements for a leveraged position (fails to have sufficient funds to keep the trade open).
Such data is beneficial for traders as it serves as a signal of leverage being effectively washed out from popular futures products – acting as a short-term indication of a decline in price volatility.
Meanwhile, trading firm QCP Capital said in a Thursday broadcast on Telegram that they expect a dim market in the next few months.
“We anticipate a subdued Q3 for BTC as the market remains uncertain around the supply from the Mt. Gox release,” QCP said.
