BTCUSD SIGNAL 06-05-22 : Bitcoin Liquidations Lead $400M in Futures Losses After Drop to $35.7K.

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BTCUSD SIGNAL

BTCUSD SIGNAL 06-05-22 : Bitcoin Liquidations Lead $400M in Futures Losses After Drop to $35.7K.

Liquidations on crypto-tracked futures exceeded $400 million in the past 24 hours as bitcoin (BTC) dropped to as low as $35,700, setting the tone for a downturn in the broader crypto market.

BTCUSD SIGNAL : Bitcoin futures racked up $191 million in losses alone, Coinglass data shows, suggesting most trading activity and open interest was limited to the largest cryptocurrency by market capitalization. Ether (ETH) futures followed with $64 million in losses.

Liquidations occur when an exchange closes a leveraged position as a safety mechanism due to a partial or total loss of the trader’s initial margin. That happens primarily in futures trading, which only tracks asset prices, as opposed to spot trading, where traders own the actual assets.

BTCUSD SIGNAL : Bitcoin fell from $39,800 on Thursday morning to below the $36,000 support level following a sell-off in U.S. equities. Reports suggested the plunge came as traders priced in higher rates to curb inflation in the U.S., despite a rally on Wednesday after Federal Reserve Chair Jerome Powell said the country would do everything in its power to curb inflation.

Bitcoin fell from $39,800 on Thursday morning to below the $36,000 support level following a sell-off in U.S. equities. Reports suggested the plunge came as traders priced in higher rates to curb inflation in the U.S., despite a rally on Wednesday after Federal Reserve Chair Jerome Powell said the country would do everything in its power to curb inflation.

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