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Bitcoin loses 30k support, as futures open interest contracts unwind

Bitcoin loses 30,000 support, as a result over $100M has been liquidated in crypto over the past 24 hours.

James Van Straten
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James Van Straten
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Quick Take

  • Bitcoin lost its $30,000 support this morning and is currently at $29,500.
  • Five days ago, CryptoSlate analyzed that open interest jumped by the fifth largest amount in one day. This was a significant driver in pushing the price over $30,000.
  • In the past 24 hours, over $100 million of liquidations have occurred in crypto, flushing out late longs.
  • Roughly 375,000 BTC sit in open futures contracts, a decrease of 25,000 BTC from the weekend.
Liquidation: (Source: CoinGlass)
Liquidation: (Source: CoinGlass)
Futures Open Interest: (Source: Glassnode)
Futures Open Interest: (Source: Glassnode)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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Bitcoin BTC (24h)
$74,277.17 -0.15%
Market Cap $1.49T
24H Volume $51.98B