Bitcoin markets record deepest retracement since Black Thursday: Raoul Pal
Investment strategist Raoul Pal has identified that Bitcoin’s fortnightly relative-strength indicator, or RSI, recently fell to levels not seen since the “Black Thursday” crash of March 2020. The Global Macro Investor and Real Vision Group CEO also noted Bitcoin’s weekly RSI has crashed to levels comparable to that of the corrections produced during “the first […]
Peter Brandt: 'Laser eyes' to blame for Bitcoin correction — but it's 'very mild' anyway
Veteran trader and chart guru Peter Brandt has made a cheeky correlation between the current Bitcoin market correction and the prevalence of ‘laser eyes’ on Twitter. In a tweet on April 18, the technical analyst tied the correction to irrational exuberance in markets as exemplified by the meme: “The chances of a correction in cryptos […]
Bitcoin market cap back below $1 trillion as correction deepens
As Bitcoin markets begin to form another daily red candle, its market capitalization has dropped back below $1 trillion once again. The third major correction in the current bull market is deepening and prices are already down 12.5% from their all-time high of $60,100 on March 13. According to CoinGecko, the BTC market capitalization is […]
Extreme leverage drove $500 million worth of BTC liquidations in one hour
The Bitcoin markets emphatically rejected the $60,000 price range on March 15, with excessive leverage driving a record $500 million worth of long liquidations over just 60 minutes. Glassnode’s founders, Jan & Yann, emphasized the new record hourly Bitcoin for liquidations, noting that more than half open futures contracts prior to the margin calls were […]