Bitcoin ‘cascading long squeeze’ to blame for slump to $60K
An increasing number of traders entering new long positions was the “fuel” behind Bitcoin’s slump to $60,000, according to Bitcoin analyst Willy Woo.
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
An increasing number of traders entering new long positions was the “fuel” behind Bitcoin’s slump to $60,000, according to Bitcoin analyst Willy Woo.
Why this matters
This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CointelegraphRelated market context
Crypto.com Enters US Crypto Perpetuals Market for Retail Traders as Kraken and Kalshi Expand
Crypto.com has launched cryptocurrency perpetual contracts for eligible US retail traders, offering leverage of up to 5x through t...
Bitget Wallet Gives Users USD and EUR Account Numbers That Convert Deposits to Stablecoins
Bitget Wallet, the self-custodial crypto wallet, is giving its users personal USD and EUR account numbers that can take in bank tr...
Trust Wallet opens early access for perpetual futures traders
Trust Wallet's early access for perpetual futures could democratize high-leverage trading, but it also raises concerns about inves...
Bitcoin-Related Google Searches Hit a 5-Year Low as Traders Eye a Bottom
Google searches for “bitcoin” have dropped to a five-year low, and some traders note that the last two times interest sank this fa...
Bitcoin Price Today: BTC Outperforms S&P 500 Above $80K as Fed Interest Rate Decision Looms
Bitcoin was hovering near $81,412 in the latest TradingView readings provided for October 28, keeping the $80,000 level in focus a...
Kalshi caps deposits for traders aged 18 to 20 ahead of US midterms
Kalshi's deposit cap for young traders highlights growing scrutiny on prediction markets, emphasizing responsible trading and addi...