{"id":564644,"date":"2020-11-18T16:22:30","date_gmt":"2020-11-18T13:22:30","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=564644"},"modified":"2020-11-18T20:46:42","modified_gmt":"2020-11-18T17:46:42","slug":"btc-surges-to-18-4k-dumps-to-17-2k-as-0-8b-is-liquidated-in-24hrs","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/btc-surges-to-18-4k-dumps-to-17-2k-as-0-8b-is-liquidated-in-24hrs\/","title":{"rendered":"BTC Surges To $18.4k, Dumps to $17.2k as $0.8B is Liquidated in 24hrs"},"content":{"rendered":"<p><strong>Quick take:<\/strong><\/p>\n<ul>\n<li><strong>Bitcoin broke the $17,100 resistance level<\/strong><\/li>\n<li><strong>Bitcoin then zoomed past $18k to post a 2020 high of $18,474 &#8211; Binance rate<\/strong><\/li>\n<li><strong>BTC soon fell hard to $17,200<\/strong><\/li>\n<li><strong>The intense price action resulted in over $800 million in liquidations across the crypto markets<\/strong><\/li>\n<\/ul>\n<p>The last 24-hours have been an exciting ride for Bitcoin (BTC) traders and investors. Late yesterday, the King of Crypto was staring at a 2-year-old resistance level at $17,100 which many thought would be the proverbial brick wall for Bitcoin. However, <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoins-chances-of-hitting-20k-by-end-of-2020-doubles-to-14\/\" target=\"_blank\" rel=\"noopener noreferrer\">BTC overcame this area with ease<\/a>, zooming past $18k, and setting a 2020 peak value at $18,474 &#8211; Binance rate. But as soon as Bitcoin posted the 2020 peak value, BTC soon dropped fast and furious to $17,200.<\/p>\n<h2>Over $0.8 Billion in Liquidations in 24 hours<\/h2>\n<p>This means that in the last 24 hours, Bitcoin has pumped by 11% and also dumped by 7%. The quick volatility has resulted in over $0.8 Billion in liquidations for both long and short positions.<\/p>\n<p>The team at ByBt.com captured this feat and shared it via the following tweet. From the tweet, it can be observed that a total of $805.69 Million in liquidations occurred in the last 24 hours.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Exchange Liquidations :<br \/> All $805.69M             54%Shorts<a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Binance<\/a>  $289.26M  51%Longs<a href=\"https:\/\/twitter.com\/hashtag\/Huobi?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Huobi<\/a> $200.06M     56%Shorts<a href=\"https:\/\/twitter.com\/hashtag\/Bybit?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Bybit<\/a> $109.94M       56%Shorts<a href=\"https:\/\/twitter.com\/hashtag\/Okex?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Okex<\/a> $109.33M       52%Shorts<a href=\"https:\/\/twitter.com\/hashtag\/Bitmex?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Bitmex<\/a>$68.64M       67%Shorts<a href=\"https:\/\/twitter.com\/hashtag\/FTX?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#FTX<\/a> $18.44M           69%Shorts<a href=\"https:\/\/twitter.com\/hashtag\/Deribit?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Deribit<\/a>$10.01M       83%Shorts <a href=\"https:\/\/t.co\/ydAyAzEJht\" rel=\"nofollow\">pic.twitter.com\/ydAyAzEJht<\/a><\/p>\n<p>&mdash; Bybt (@bybt_com) <a href=\"https:\/\/twitter.com\/bybt_com\/status\/1328977537993646081?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">November 18, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>$617M in Bitcoin Liquidations, $88M in Ethereum<\/h2>\n<p>Out of the $805 Million in liquidations, a huge chunk of the damage affected Bitcoin traders. According to <a href=\"https:\/\/www.bybt.com\/LiquidationData\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ByBt.com,<\/a> Bitcoin liquidations added up to $617.55 million. This amount is 76% of the total. Additionally, <a href=\"https:\/\/en.ethereumworldnews.com\/ethereums-daily-active-addresses-hint-of-eth-breaking-500\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ethereum traders<\/a> who were over-exposed were liquidated to the tune of $88.38 million.<\/p>\n<p>Below is a screenshot providing a breakdown of the aforementioned $805 million in crypto liquidations.<\/p>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Bitcoin-Liquidations-Nov-18th.jpg\"><img class=\"aligncenter size-large wp-image-564645\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Bitcoin-Liquidations-Nov-18th-1024x343.jpg\" alt=\"\" width=\"1024\" height=\"343\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Bitcoin-Liquidations-Nov-18th-1024x343.jpg 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Bitcoin-Liquidations-Nov-18th-300x101.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Bitcoin-Liquidations-Nov-18th-770x258.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Bitcoin-Liquidations-Nov-18th-500x168.jpg 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Bitcoin-Liquidations-Nov-18th-240x80.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Bitcoin-Liquidations-Nov-18th-717x240.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/Bitcoin-Liquidations-Nov-18th.jpg 1250w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><\/p>\n<h2>What Next for Bitcoin and Altcoins?<\/h2>\n<p>In terms of what comes after the last 24 hours of market excitement, Bitcoin could very much be gearing up for another attempt at the $18,400 level as it guns for the elusive $20k. If Bitcoin succeeds in zooming past $18,400 as it did $17,100, high chances are, that it will proceed to 2017&#8217;s all-time high value.<\/p>\n<p>However, Bitcoin has been in overbought territory since breaking $15k. This fact was pointed out by both <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-is-in-bubble-territory-crypto-analyst\/\" target=\"_blank\" rel=\"noopener noreferrer\">Timothy Peterson<\/a> of Cane Island Alternative Advisors and <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-analyst-13800-is-next-if-btc-cannot-break-17100\/\" target=\"_blank\" rel=\"noopener noreferrer\">MagicPoopCannon<\/a>. Therefore, Bitcoin could have begun a correction that could take BTC to $14k.<\/p>\n<p>With respect to alt-coins, their future is tied to that of Bitcoin. Therefore, BTC need not be extremely volatile in either direction for them to thrive.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick take: Bitcoin broke the $17,100 resistance level Bitcoin then zoomed past $18k to post a 2020 high of $18,474 &#8211; Binance rate BTC soon fell hard to $17,200 The intense price action resulted in over $800 million in liquidations across the crypto markets The last 24-hours have been an exciting ride for Bitcoin (BTC) traders and investors. Late yesterday, the King of Crypto was staring at a 2-year-old resistance level at $17,100 which many thought would be the proverbial [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":563247,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[800],"tags":[6962,1233,6961],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/564644"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=564644"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/564644\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/563247"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=564644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=564644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=564644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}