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Bitcoin whales highlight billions of dollars in the ether highlighting the weakening of the condemnation in the support of Bitcoin of $ 108,000 between the main players.
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Bitcoin derivatives show an increased liquidation risk of $ 390 million in the declining phase at risk below $ 107,000.
Bitcoin (BTCIt has been traded in a 2.3 % narrow range since the sharp decline from $ 112,500 on Friday. The absence of momentum can be partially attributed to the organized markets that are closed to spend the US Labor Day, but bitcoin derivative markets indicate that there is no increasing confidence in the support level of $ 108,000.
The annual Bitcoin Mother Future Future premium is currently 7 %, which is firm within a neutral range from 5 % to 10 % and flat compared to the previous week. The index showed the latest signs of stunning on August 24, after the gathering to $ 117,000 after the US Federal Reserve Chair Jerome Powell speech Hopes in a less restricted monetary policy sparked.
Bitcoin price turns from gold amid whale sale pressure
Gold price has gained 2.1 % since Friday, which increased the feelings of bitcoin merchants, as the cryptocurrency recorded 12.5 % of the highest level on August 14 ever. Investors wonder whether the last contraction reflects the wider risk or unique factors for Bitcoin, especially after some of their holders have long decided to liquidate part of their locations.
The Bitcoin whale, which had previously been held for more than five years, started to recycle money to the ether (Eth) On August 21, Selling worth $ 4 billion From Bitcoin through Hyperleliid. The movement emerges as it appears that Altcoins benefit from expanding the accumulation of companies, according to Nikolai Sondargard, research analyst at Crypto Intelligence Platform Nansen.
Bitcoin (sale) options are traded by 7 % compared to communication tools (purchase), according to the Deribit Sld scale. This type of imbalance is common in the Haboodi market, and the index remained higher than the 6 % neutral threshold over the past week. Whales and market makers do not show confidence that the support level of $ 108,000 will keep it.
the 127 million dollars net external flows From the United States, on Friday, the boxes circulating on the stock exchange provides a non -convenience between the holders. Whether the sale stems from the total economic uncertainty or the Bitcoin special weakness, merchants are increasingly anxious, as shown by BTC derivatives. Meanwhile, the return on government bonds in the UK has increased for 20 years to its highest levels since 1998.
Related to: Is Warren Buffett the growing pile a bad sign of stocks and bitcoin?
Investors demand higher returns for government bonds, indicating stronger inflation expectations or low value of local currencies. In both cases, the long -term return increases the cost of financing for future debt and its new issuance. Even speculation about such risks can increase national financial affairs and may leak into the euro area due to Continuous financial concerns.
Facing $ 390 million of upscale positions to face filtering if the bitcoin price decreases to less than 107,000 dollars, according to Coinglass Estimates. However, the expectations of Bitcoin will stop the US labor market data due on Friday. The potential height of unemployment can be a positive incentive for assets on risk, as it will increase the pressure on the federal reserve to accelerate interest rate cuts.
This article is intended for general information purposes and does not aim to be and should not be considered legal or investment advice. The opinions, ideas and opinions expressed here are alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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