by Coinstrooper Crypto Articles
Quick Take
  • In the past 60 minutes, over $112 million longs have been liquidated as traders de-risk in anticipation of the FOMC minutes.
  • Bitcoin slipped below the $90,000 psychological levels, blowing millions in long positions out of the water.
  • Data on Coinglass shows that over $112 million in long positions have been liquidated over the past hour.
  • These positions were flushed out as the Bitcoin price dipped below the $90,000 psychological level, testing a seven-month low.

What Happened

It comes ahead of the October FOMC minutes, which is barely an hour out, suggesting investors are de-risking.

Market Context

Data on Coinglass shows that over $112 million in long positions have been liquidated over the past hour. These positions were flushed out as the Bitcoin price dipped below the $90,000 psychological level, testing a seven-month low.

Why It Matters

In the past 60 minutes, over $112 million longs have been liquidated as traders de-risk in anticipation of the FOMC minutes.

Details

Bitcoin slipped below the $90,000 psychological levels, blowing millions in long positions out of the water.

$115 Million Longs Wiped Out Amid FOMC Minutes Jitters

Meanwhile, the drop was not limited to the Bitcoin, as crypto stocks also registered losses, following the pioneer crypto’s fall to a 7-month low.

Beyond crypto and related stocks, indices were also down, with the Nasdaq and S&P 500 turning negative.

The post Nearly $115 Million Longs Liquidated As Bitcoin Drops to 7-Month Low,$70,000 Incoming? appeared first on BeInCrypto.