• About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
Saturday, September 30, 2023
  • Login
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Litecoin
    • Ripple
    • Altcoin
    • Stablecoin
    • Press Release
  • Blockchain
  • Business
  • Market Analysis
  • Live Price
  • ICO News
  • Regulation
  • Guide
  • Trading
No Result
View All Result
Crypto Reception
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Litecoin
    • Ripple
    • Altcoin
    • Stablecoin
    • Press Release
  • Blockchain
  • Business
  • Market Analysis
  • Live Price
  • ICO News
  • Regulation
  • Guide
  • Trading
No Result
View All Result
Crypto Reception
No Result
View All Result
Home Bitcoin

Bitfinex Registers Significant Spike in BTC Shorts, Elon Effect or CME Option Expiry Impact?

June 25, 2021
in Bitcoin
Reading Time: 3 mins read
0
bitcoin
Share on FacebookShare on TwitterShare on RedditShare on Whatsapp


Bitfinex crypto exchange has registered a significant spike in short positions over the past 4 hours. A total of 10,000 BTC were shorted on the crypto exchange in the said period estimated to be worth $33 million.

10k btc in less than 4 hours. pic.twitter.com/ccybKBMlJs

— WhalePanda (@WhalePanda) June 25, 2021

The sharp rise in short positions was attributed to whale loaning a significant portion on Bitfinex. According to Wu Blockchain, a whale borrowed over 15,000 BTC on the exchange that broke the long-short ratio and the number of short positions increased significantly.

The whale borrowed 15,157 bitcoins on Bitfinex. The balance of long-short ratio was broken, the proportion of shorts rose, and bitcoin fell below 33,000 US dollars. pic.twitter.com/O5JZ3VCh4g

— Wu Blockchain (@WuBlockchain) June 25, 2021

Many of crypto Twitter also believed the shorting could be influenced by Elon Musk’s trolling of Bitcoin earlier today. Musk has been obsessed with taking potshots at the Bitcoin community ever since his fallout a couple of months back. Musk’s tweet is believed to have a volatile impact on the market and many accuse him of knowingly manipulating the crypto market.

Earlier today Musk had taken another potshot on Bitcoin Maxis with a joke.

“That’s not funny!” – Bitcoin maxis

— Elon Musk (@elonmusk) June 25, 2021

Would Bitcoin Head into Another Bearish Weekend?

Apart from heavy lending by Bitcoin whale and the possible Musk effect, many also pointed towards the expiry of the CME options contracts that are believed to have a bearish and volatile impact on Bitcoin price. Over the past couple of months since the May second week 50% crash, the weekends have proven to be bearish with low liquidity.

The top cryptocurrency bounced back strongly from its Tuesday crash below the key support level of $30,000 recording a new 5-month low but failed to get past the $35k resistance. BTC has lost nearly half of its valuation from April ATH, but Bitcoin proponents such as Mike Novogratz and few others beleive the market is from reaching its top.

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

About Author

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.





Source link

Related articles

robert kiyosaki bitcoin

Robert Kiyosaki Teases Bitcoin (BTC) as Solution to Hyperinflation

September 30, 2023
bsv

Ager-Hanssen Exits nChain, Ignites ‘Faketoshi’ Claims Against Wright

September 30, 2023
Share2Tweet1ShareSend

Related Posts

robert kiyosaki bitcoin

Robert Kiyosaki Teases Bitcoin (BTC) as Solution to Hyperinflation

September 30, 2023
0

Robert Kiyosaki, the renowned financial expert and writer of the bestseller, ‘Rich Dad Poor Dad’ is once again positive...

bsv

Ager-Hanssen Exits nChain, Ignites ‘Faketoshi’ Claims Against Wright

September 30, 2023
0

Christen Ager-Hanssen, once a firm supporter and former CEO of nChain, the driving force behind Bitcoin SV (BSV) infrastructure,...

ETF Approvals Delayed

NYDIG Forecast: ETF Approvals Delayed as U.S. Government Faces Shutdown Risk

September 30, 2023
0

If Congress fails to agree on a funding bill by Septembe­r 30, there is a possibility that the U.S....

Data Hints At Start Of Bitcoin And Crypto Market Rally

BTC Price Showing Early Bullish Signs Before US Government Shutdown?

September 30, 2023
0

While the US government nears the risk of a shutdown, the Bitcoin BTC price is showing what could be...

bitcoin price news

Bollinger Bands Creator Signals Bitcoin Upsurge; Is $30k Next?

September 30, 2023
0

As September draws to a close, Bitcoin enthusiasts are eyeing potential bullish trends, with indications pointing towards a positive...

Load More
  • Trending
  • Comments
  • Latest
Cryptanalysis project Toon Finance Coin will bring larger returns than DOGE & SHIBA INU in 2023 | NewsBTC

Cryptanalysis project Toon Finance Coin will bring larger returns than DOGE & SHIBA INU in 2023 | NewsBTC

December 17, 2022
Crypto Academy CEO Granit Mustafa: blockchain will “redefine digital finance”

Crypto Academy CEO Granit Mustafa: blockchain will “redefine digital finance”

September 23, 2022
Crypto inflows

Exchange Inflows Ramp Up As Crypto Investors Clamor To Exit Market

June 14, 2022
Twitter Begins Massive Layoffs — Elon Musk Says 'No Choice' Citing $4M Loss per Day

Twitter Begins Mass Layoffs — Elon Musk Says ‘No Choice’ Citing $4M Loss per Day – Featured Bitcoin News

November 6, 2022
robert kiyosaki bitcoin

Robert Kiyosaki Teases Bitcoin (BTC) as Solution to Hyperinflation

0
Floyd Mayweather – Boxing Champion Promoted an ICO

Floyd Mayweather – Boxing Champion Promoted an ICO

0
Cannabis Industry Going Crypto | CryptoPost

Cannabis Industry Going Crypto | CryptoPost

0

Why South Korea Decided To Ban ICOs?

0
robert kiyosaki bitcoin

Robert Kiyosaki Teases Bitcoin (BTC) as Solution to Hyperinflation

September 30, 2023
Ether Futures

FTX Exploiter Transfers 5,000 ETH Ahead of Ether Futures ETF Launch

September 30, 2023
bsv

Ager-Hanssen Exits nChain, Ignites ‘Faketoshi’ Claims Against Wright

September 30, 2023
Ethereum

Ethereum ETF: Valkyrie Halts Purchase Of ETH Futures Contracts

September 30, 2023

Recommended

Why Shiba Inu Has Remained Most Held Asset Amongst Large Ethereum Whales Despite Price Turmoil

Why Shiba Inu Has Remained The Most Held Asset Amongst Large Ether Whales Despite Price Turmoil

December 6, 2021
Binance, CZ Sued by SEC; A

Binance, CZ Sued by SEC; A ‘Calculated Evasion of the Law’

June 5, 2023
chivo el salvador wallet

El Salvador Chivo Wallet Programmer Opens Up About Alleged ID Fraud, Tech and Money Laundering Issues – Exchanges Bitcoin News

January 13, 2023
Gitcoin (GTC) surges nearly 6% in intraday trading

Gitcoin (GTC) surges nearly 6% in intraday trading

December 24, 2021

Recent News

robert kiyosaki bitcoin

Robert Kiyosaki Teases Bitcoin (BTC) as Solution to Hyperinflation

September 30, 2023
Ether Futures

FTX Exploiter Transfers 5,000 ETH Ahead of Ether Futures ETF Launch

September 30, 2023

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Business
  • Ethereum
  • Guide
  • ICO News
  • Litecoin
  • Market Analysis
  • Press Release
  • Regulation
  • Ripple
  • Stablecoin
  • Trading
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions

CryptoReception © 2021 All rights reserved

No Result
View All Result
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Litecoin
    • Ripple
    • Altcoin
    • Stablecoin
    • Press Release
  • Blockchain
  • Business
  • Market Analysis
  • Live Price
  • ICO News
  • Regulation
  • Guide
  • Trading

CryptoReception © 2021 All rights reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.