Crypto currency Although it became beautiful for its investors for a few hours of the day, it has come back to a terrible. The rapid BTC rise allowed us to approach six -digit levels again. This did not take long. With the most terrible timing of the Bybit stock exchange, it turned out that the $ 1.4 billion ether and its derivative were stolen. There is also a second reason for a fall.
Why did crypto coins fell?
The previous ones fell to zero with the SP500 and returned to the plus with the stock market drop as expected. BTC PriceI declined simultaneously with the US markets. The first reason for the fall in the crypto was a billion dollar hacking incident in which the Bybit stock exchange lived. In addition, negative statements about tariffs and pessimistic comments of the Fed members were supportive.
The second major reason for the decline is a second virus wave report with Chinese -based re -risk of global epidemics. However, this is not a situation that requires that much concern, at least Lark Davis wrote;
On a single screen instant prices, important data, news, latest developments, comments and discussions at Chat! Come right away from your eyes!
“The fear of Covid in China is being reported. The virus was only discovered in animals. The mortality rate is thought to be similar to Mers, which is 1 in 3. But most importantly, the transition from animal to human is zero. And even though it can happen theoretically, this is not proven. No one is sick. The findings were published in a scientific magazine, not as a red alarm from Beijing. ”
This report, published in the scientific journal called Cell, points to a new version of HKU5 coronavirus and this panic can soon be overcome.
Why did the fall accelerated
In the futures transactions, an open position of $ 2.5 billion was deleted. Aside from the liquidation of Long and Short positions, the positions are closed directly. The move of the traders who want to take the balances out of the balance seems to have accelerated this decline. BTC It fell to $ 95,400.
Turkish On-Chain Analyst Anlcnc1 wrote;
“The price is falling, but if you ask if it is getting short, both Short and long positions continue to close in open positions. I’m not sure, but probably the positions are being closed; The balances will go out.
A total of 1.4 billion dollars of open positions were deleted by Ether by Ether.
BTC at $ 95,500.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and perform their operations in line with their own research.
