BTC is affected by bulls, firm support recovers

BTC is affected by bulls, firm support recovers

Since November 16, the global cryptocurrency market has plummeted across the board in the past two days. In particular, crypto-assets such as BTC and ETH have fallen sharply again and again. The price of BTC fell to $58,854.20 on the same day. Likewise, the price of the Eth fell to
US$4125.04. As everyone knows, the highest price of BTC will reach US$69,000 this month, and the highest price of ETH will reach US$4900.


But since November 16, its price bottomed again, and the rebound and decline narrowed. In the past two days, the top ten currencies in the crypto market still fell across the board within 24 hours, except for TEDA. Although BTC rose to around $60,400 in intraday trading, the
upward and downward movements are still significant.

Let’s talk about ETH again. ETH has been under the devastation of the past two days from the highest ever $4861.49, which fell below $4,100, but fortunately, it held the $4,000 mark. In addition, Binance Coin, SOL, Cardano, Ripple
DOT and Dogecoin all have different degrees of decline.


From the previous data, after BTC fell below the $60,000 mark on the 17th, it once fell to about $58,600 and stopped falling and began to rebound. It continued to fluctuate up and down within the day. ETH has been holding the 4,000 USD mark. On the 18th, ETH began to show a
gradual recovery and its price reached around 4,300 USD.


Let’s take a look at the contract turnover. As of 17:00 on the 17th, 24-hour trading volume data in the cryptocurrency derivatives market shows that Binance’s turnover is as high as $103.93 billion and ranks first in the contract market. OKEx ranked second with a trading volume of US$29.1 billion, while CoinTiger continued to rank third with a trading volume of approximately US$21.1 billion.


The data shows that the amount of forced liquidation of the entire network in 24 hours is as high as 612 million U.S. dollars, of which the amount of forced liquidation by long positions is approximately US$485 million, and the rate of forced liquidation by long positions is as high as 9.33%.

In terms of the number of forced liquidation, the number of forced liquidation soared to 147,459 in the past 24 hours. The most significant single forced liquidation order occurred on the Binance Exchange LTCUSD_220325 with a value of 10.3692 million U.S. dollars.

According to the detailed data of the exchange, Binance’s 24-hour forced liquidation amount was US$243 million, which accounted for 39.7% of the crypto market, of which the amount of forced liquidation by long positions was approximately US$200 million.

On the other hand, the amount of forced liquidation by FTX was US$121 million, the amount of forced liquidation was second in the entire network, and the amount of forced liquidation accounted for 19.85% of the entire network.


From the perspective of currency, the amount of forced liquidation of ETH was US$186 million and surpassed BTC to rank first. Among them, the amount of forced liquidation of long positions was US$134 million, and the proportion of forced liquidation of long positions was about 72.36%.

On the other hand, the amount of forced liquidation of BTC ranked second with US$171 million, of which the amount of forced liquidation of long positions was as high as US$145 million, and the forced liquidation rate of long positions was 84.8%. In addition, the amount of forced liquidation of LTC, SOL, DOT, SAND, DOGE, and XRP exceeded 10 million U.S. dollars.

BTC is affected by bulls, firm


The data shows that the five major currencies of BTC, ETH, EOS, BCH, and LTC fell across the board. However, the long-short data of the entire network shows that the market is still inclined to be bullish as a whole, and the bullish ratio is higher than the bearish ratio.

In addition, although the long-term advantage of the long-short ratio and the natural long-short amount ratio is not apparent. The bullish ratio of EOS and BCH in the OKEX elite trend indicator still reached more than 70%, of which the bullish ratio of EOS was 78%.

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