Bitcoin briefly slips under $9k; triggers liquidations worth $11M

Bitcoin briefly slips under $9k; triggers liquidations worth $11M

Bitcoin has been taking continuous hits in the spot market and at press time, the coin was noting a fall of 3.37% – a fall that pushed the price of the coin under $9k. According to the Chaikin Money Flow [CMF] indicator, the digital asset surged to occupy the overbought zone after Bitcoin’s price recorded a sudden plunge on 26 February.

According to the chart provided by data analytics firm Skew, almost $11 million longs were liquidated. $9,300 was looked upon as strong support since 5 Feb, however, as the coin went under this mark sell-order might have been triggered.

This article is being updated. 

Share your thoughts, add a comment!

You must be logged in in order to place a comment.

Article comments

Loading...
No comments yet, be the first to comment this article