Bitcoin’s crash wipes $ 477 million! Does BTC Bulls ignore the warning signs? star-news.press/wp

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Bitcoin fell near 108 thousand dollars, as the financing rates remained high over Binance, which led to $ 477 million for long qualifiers and increased the risk of the deepest side.

Since the refusal confrontation at 117 thousand dollars four days ago, Bitcoin (BTC) has slid sharply, and decreased to a decrease of $ 108,717.

As of the writing of these lines, Bitcoin has been traded at $ 110,197, which represents a 2.04 % decrease over the past 24 hours.

Amid this decrease, analysts remained divided into bitcoin prospects. One of them, Arab analyst at Cryptoquant, A mark has been placed Dysfunction between derivatives and immediate work on Binance.

Funding rates reveal the defect

According to Cryptoquant, Bitcoin’s financing rates on Binance have been positive throughout August despite low prices.

During this period, this scale hovers about 0.005 and 0.008, which is usually very high. Usually, the positive financing rates of the merchants continued to open the talls with the use of this while paying high costs.

This behavior in the market reflects great optimism, and not necessarily driven by the basics of strong prices.

Of course, this incomprehensible assessment of the investor’s belief that the decrease was merely a temporary correction, while maintaining optimism.

The liquidation begins in the sting

However, this optimism carries a high risk for the long qualifiers. In fact, this danger has become clear over the past day, as the long rank reached the highest level of four months at 4.3 kb.

With a value of $ 477.5 million, a long pressure pressure depth.

The immediate market feels different

Surprisingly, while demand for future positions is still high, investors in the immediate market are closing positions.

According to Cryptoquant, Bitcoin has witnessed a positive exchange of Netflow from August 17 to 25, with 26 exceptions.

Such continuous flows of exchanges suggested the aggressive sale. This behavior referred to confidence, with investors closing to avoid losses or lock in gains.

Historically, the higher sales activity has previously decreased in a decrease in more decrease, adding weight to the declining pressure of BTC.

Derivatives against Al -Baqa: Who wins?

According to Ambrypto analysis, Bitcoin decreased to $ 108,000, as Longs was filtered at a value of $ 477 million. Meanwhile, it flourished as more buyers jumped to take more long positions.

Thus, the percentage of the sale of Taker Bitcoin referred to the recovery, jumping from 0.89 to 0.96 at the time of the press.

Usually, when this scale rises, it indicates the weakening of the sellers’ dominance on the derivative market while buyers intervene slowly.

However, if buyers continue to open talls while BTC continues to decrease, the defect increases the risk of successive filter.

If the sale continues, BTC can reconsider $ 107,000. For reflection, immediate buyers must re -enter to support price pressure and compensate for derivative pressure.