• BTC Dominance: %
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Crypto market bloodbath leads to $432M in liquidation

Jon Hartney by Jon Hartney
September 19, 2022
in Bitcoin, Blockchain, Business, Market
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

The current market downturn is being attributed to a number of macroeconomic factors, such as higher-than-expected CPI data and a possible biggest Fed rate hike in 40 years.

The crypto market turmoil entered the third week of September as most of the cryptocurrencies started the week on a bearish note. The total crypto market cap dipped below $1 trillion again, with several cryptocurrencies recording a double-digit downfall over the past 24 hours.

The ongoing bearish turmoil has led to nearly half a billion in liquidations for the leverage crypto traders over the past 24 hours. Data from Coinglass highlight that 130,087 traders were liquidated with a total liquidations value of $431.51 million. Bitcoin (BTC) leverage traders lost $44.5 million, followed by Ether (ETH) traders with a total liquidation of $8.39 million.

Related articles

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Long traders made a significant chunk of losses on majority of the exchanges with the average difference between the amount of long and short liquidations being 10X.

Liquidations on Different Exchanges Source: Coinglass

The current market turmoil is being attributed to several macroeconomic factors, including the recently released consumer price index (CPI) data released on Sept. 13 that showed inflation is yet to cool off. BTC’s price fell nearly $1,000 within minutes of the CPI data release. Since then, the market showed some will to move up over the weekend but saw another bloodbath earlier on Monday.

US inflation shows persistent US retail inflation w/acceleration at August core. Headline drops less than forecast to 8.3%, while Core CPI rose to 6.3%. pic.twitter.com/ZAhxPUlvjn

— Holger Zschaepitz (@Schuldensuehner) September 13, 2022

The higher CPI data is expected to be followed by a Fed rate hike in the upcoming meeting scheduled for Sept. 21. Market pundits have predicted that the rate hike could be the biggest in 40 years as a measure to control the soaring inflation.

According to the CME FedWatch Tool, the market has now fully priced in a minimum 75-basis-point hike for the Fed funds rate and is not discounting the chances of 100 basis points. A 100-point increase would be the Fed’s first such action since the early 1980s.

Related: Here is why a 0.75% Fed rate hike could be bullish for Bitcoin and altcoins

The recently concluded Ethereum Merge was also blamed by many as a buy the rumor, sell the news” event, where the price of Ether (ETH) rose as high as $2,000 in the run-up to the Merge, but has now declined to $1,300 post Merge.

The majority was right. The #Ethereum Merge was a sell the news event.

— MMCrypto (@MMCrypto) September 15, 2022

With the stock and crypto markets seeing a similar bearish trend, popular trader Clark was quick to point toward the similarities of current market conditions to that of the 1970s. 

Also worth noting, leading into this, market behavior is on par with previous years in terms of realized vol.

Nov-December should be good months.

(Past returns not predictive of future results) pic.twitter.com/KKOKEIIvis

— Clark (@CanteringClark) September 18, 2022

In his tweet, Clark noted that the market could turn bullish again towards the end of the year in the months of November and December. Thus, the crypto market could see another bullish rally in tandem with the stock market towards the end of 2022.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Bitcoin derivatives data shows room for BTC price to move higher this week

by Jon Hartney
January 23, 2023
0

BTC options data suggest that the Bitcoin price rally still has legs, even with wider economic concerns growing and the

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

by Jon Hartney
January 22, 2023
0

BTC could take a break from its sharp rally and if BTC price bounces off underlying support, APE, MANA, AAVE...

Genesis bankruptcy case scheduled for first hearing

by Jon Hartney
January 22, 2023
0

The first hearing in Genesis Capital's bankruptcy case will be held on January 23, according to court filings

Terra lending protocol Mars to launch mainnet

by Jon Hartney
January 22, 2023
0

The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during...

Central African Republic eyes legal framework for crypto adoption

by Jon Hartney
January 22, 2023
0

A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in

Load More
  • Trending
  • Comments
  • Latest

Ethereum Classic gets ‘endorsement’ from Vitalik Buterin, but ETC price still risks 50% crash

July 27, 2022

Critique on Helium’s $6.5K monthly revenue causes a stir

July 28, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022

Cardano Vasil hard fork hit with another delay for several weeks

July 29, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0

Crypto owners banned from working on US Government crypto policies

0

Korean startup Uprise lost $20M shorting LUNC

0

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Genesis bankruptcy case scheduled for first hearing

January 22, 2023

Terra lending protocol Mars to launch mainnet

January 22, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Bitcoin derivatives data shows room for BTC price to move higher this week January 23, 2023
  • Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher January 22, 2023
  • Genesis bankruptcy case scheduled for first hearing January 22, 2023
  • Terra lending protocol Mars to launch mainnet January 22, 2023
  • Central African Republic eyes legal framework for crypto adoption January 22, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$28,440.003.18%
  • ethereumEthereum(ETH)$1,825.104.14%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.01-0.27%
  • binancecoinBNB(BNB)$331.372.34%
  • usd-coinUSD Coin(USDC)$1.00-0.04%
  • rippleXRP(XRP)$0.4444393.79%
  • cardanoCardano(ADA)$0.3738112.63%
  • dogecoinDogecoin(DOGE)$0.0777674.23%
  • Lido Staked EtherLido Staked Ether(STETH)$1,821.624.19%
  • matic-networkPolygon(MATIC)$1.141.71%
  • SolanaSolana(SOL)$22.293.17%
  • Binance USDBinance USD(BUSD)$1.00-0.15%
  • polkadotPolkadot(DOT)$6.353.65%
  • litecoinLitecoin(LTC)$93.406.29%
  • Shiba InuShiba Inu(SHIB)$0.0000111.50%
  • tronTRON(TRX)$0.0656178.12%
  • AvalancheAvalanche(AVAX)$17.653.95%
  • daiDai(DAI)$1.00-0.21%
  • UniswapUniswap(UNI)$6.282.37%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$28,529.003.44%
  • chainlinkChainlink(LINK)$7.666.16%
  • cosmosCosmos Hub(ATOM)$11.752.68%
  • ToncoinToncoin(TON)$2.17-9.02%
  • leo-tokenLEO Token(LEO)$3.390.66%
  • ethereum-classicEthereum Classic(ETC)$20.891.23%
  • moneroMonero(XMR)$158.114.54%
  • OKBOKB(OKB)$45.19-0.36%
  • bitcoin-cashBitcoin Cash(BCH)$129.331.78%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.09%
  • stellarStellar(XLM)$0.0929311.59%
  • filecoinFilecoin(FIL)$5.953.97%
  • AptosAptos(APT)$13.161.24%
  • true-usdTrueUSD(TUSD)$1.00-0.12%
  • Lido DAOLido DAO(LDO)$2.32-3.93%
  • HederaHedera(HBAR)$0.0628043.10%
  • QuantQuant(QNT)$127.551.47%
  • CronosCronos(CRO)$0.0704822.11%
  • NEAR ProtocolNEAR Protocol(NEAR)$2.054.36%
  • ArbitrumArbitrum(ARB)$1.38-72.70%
  • vechainVeChain(VET)$0.0237893.71%
  • StacksStacks(STX)$1.190.87%
  • algorandAlgorand(ALGO)$0.2208942.32%
  • Internet ComputerInternet Computer(ICP)$5.222.12%
  • ApeCoinApeCoin(APE)$4.183.13%
  • FantomFantom(FTM)$0.4954534.45%
  • The GraphThe Graph(GRT)$0.1525675.59%
  • eosEOS(EOS)$1.175.45%
  • The SandboxThe Sandbox(SAND)$0.673.70%
  • decentralandDecentraland(MANA)$0.625.12%
  • ImmutableXImmutableX(IMX)$1.211.81%
  • AaveAave(AAVE)$77.522.68%
  • MultiversXMultiversX(EGLD)$43.773.18%
  • tezosTezos(XTZ)$1.172.63%
  • FlowFlow(FLOW)$1.022.58%
  • theta-tokenTheta Network(THETA)$1.054.28%
  • FraxFrax(FRAX)$1.00-0.06%
  • Axie InfinityAxie Infinity(AXS)$8.713.29%
  • neoNEO(NEO)$12.814.60%
  • kucoin-sharesKuCoin(KCS)$9.070.48%
  • havvenSynthetix Network(SNX)$2.730.48%
  • ConfluxConflux(CFX)$0.375871-4.44%
  • OptimismOptimism(OP)$2.49-2.49%
  • Rocket PoolRocket Pool(RPL)$40.163.24%
  • Mina ProtocolMina Protocol(MINA)$0.887.78%
  • BitDAOBitDAO(BIT)$0.530.62%
  • GateGate(GT)$5.402.89%
  • paxos-standardPax Dollar(USDP)$1.00-0.28%
  • Curve DAOCurve DAO(CRV)$0.972.10%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.0001270.87%
  • bitcoin-cash-svBitcoin SV(BSV)$37.774.91%
  • KlaytnKlaytn(KLAY)$0.2350923.41%
  • USDDUSDD(USDD)$1.000.04%
  • dashDash(DASH)$64.028.95%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.952.88%
  • PancakeSwapPancakeSwap(CAKE)$3.791.20%
  • ChilizChiliz(CHZ)$0.1228922.39%
  • GMXGMX(GMX)$75.24-4.02%
  • makerMaker(MKR)$694.171.83%
  • eCasheCash(XEC)$0.0000323.84%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • Frax ShareFrax Share(FXS)$8.201.69%
  • iotaIOTA(MIOTA)$0.2176413.33%
  • BitTorrentBitTorrent(BTT)$0.0000010.97%
  • huobi-tokenHuobi(HT)$3.630.34%
  • singularitynetSingularityNET(AGIX)$0.489281-1.71%
  • Bitget TokenBitget Token(BGB)$0.3970180.50%
  • cETHcETH(CETH)$36.634.39%
  • EdgecoinEdgecoin(EDGT)$1.01-0.39%
  • XDC NetworkXDC Network(XDC)$0.038003-2.17%
  • Tokenize XchangeTokenize Xchange(TKX)$6.523.33%
  • PAX GoldPAX Gold(PAXG)$1,998.550.36%
  • Trust WalletTrust Wallet(TWT)$1.210.93%
  • Tether GoldTether Gold(XAUT)$2,003.371.69%
  • RenderRender(RNDR)$1.34-3.31%
  • Mask NetworkMask Network(MASK)$6.3119.66%
  • zilliqaZilliqa(ZIL)$0.0286084.05%
  • RadixRadix(XRD)$0.04578515.06%
  • BinaryXBinaryX(BNX)$23.94-86.46%
  • loopringLoopring(LRC)$0.3672148.78%