Global crypto markets fell on Friday following the Mt. Gox repayments, Germany's bitcoin relocation and a surge in short-selling liquidations.
| Cryptocurrency | price | Profit +/- |
| Bitcoin BTC/USD | $56,499 | -3% |
| Ethereum ETH/USD | $2,984.6 | -4.9% |
| Solana Sol/USD | $134.7 | +0.9% |
| Dogecoin DOGE/USD | $0.1041 | +-3.2% |
| Shiba Inu SHIB/USD | $0.00001457 | -3.9% |
Notable statistics:
- According to data from IntoTheBlock, Bitcoin showed strength across key metrics, with large-scale trading volume increasing by 14.8% and net inflows to exchanges surging by 259.7%. Daily trading volumes over $100,000 also increased.
- According to data from Coinglass, short liquidations reached their highest level ($132 million) since May 20. In the past 24 hours, 206,505 traders were liquidated, bringing total crypto liquidations to $582.02 million.
- According to data from Whale Alert, a dormant address holding 20 BTC (worth $1.1 million) was activated for the first time in 11.1 years.
Notable developments:
Mt Gox begins repaying creditors for the first time in 10 years
Crypto billionaire Justin Sun suggests buying Bitcoin off-market from German government to minimize impact on price, lawmakers accuse authorities of selling
Bitcoin Bull Mike Novogratz Turns to Reagan as Biden Candidate Questions Raise: 'Power is a Strange Drug'
Amid Bitcoin Crash, Peter Schiff Predicts Prolonged Bear Market: “Don't Say I Didn't Warn You HODLers”
Top losers:
| Cryptocurrency | price | Profit +/– |
| core Core/US Dollar | $0.8809 | -16.5% |
| Oldie ORDI/USD | $27.89 | -14.3% |
| arbitration ARB/USD | $0.6221 | -12.3% |
Prominent crypto trader Flow Horse revealed that he made profits from short selling over the past two days, with a target of $52,000.
Founder and CEO, Cryptoquant Ki Young-ju They say the value of bitcoin sales seized by the government has been overstated and that this should not cause the trade to collapse.
In another tweet, Yeongju He predicted the bull market will continue into early next year, adding that “spot traders would be wise to DCA with the potential for a drop from here to $47,000 in mind.”
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