Bitcoin and Ethereum both saw record liquidations as investors reacted to fears over a trade war, which saw many crypto investors move their money to stablecoins or safer assets… Bitcoin fell by more than 10 per cent to below $110,000, before recovering to $113,096 on Saturday morning. The value of Ethereum slumped by 11.2 per cent to $3,878. Other cryptocurrencies, including XRP, Doge and Ada, fell around 19 per cent, 27 per cent, and 25 per cent in the last 24 hours, respectively.
Bloomberg reports some statistics:
Citing 24-hour data from Coinglass, the report noted that more than $19 billion has been wiped out in the “largest liquidation event in crypto history”, which impacted more than 1.6 million traders. It added that more than $7 billion of those positions were sold in less than one hour of trading on October 10. According to data on CoinMarketCap, the cryptocurrency market cap has dived to $3.74 trillion from the record-high $4.30 trillion level, the previous day. Trading volumes as of the market close were recorded at $490.23 billion.
Bitcoin retreated on Friday, as US-China trade tensions reignited, after racing to record highs earlier in the week as persistent rate-cut bets and signs of some cooling in geopolitical tensions helped boost risk. Bitcoin was trading at $105,505.4 on Friday, down 13.15% on the day.
Abstract credit: https://slashdot.org/story/447756
Going back up rapidly.
Well, yeah, he and his friends already cleaned up in the futures market on the way down, and they will do it again on the way up
You already know.
Well, yeah, I am waiting to sell my Dogecoin stash at $69
Good idea. I recommend Xibucks. 😉