As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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Sunday, 2 August 2020

Bitcoin and Ethereum crash by more than 12% in 6 minutes as more than $1B of positions gets liquidated

Read? Bitcoin and Ethereum crash by more than 12% in 6 minutes as more than $1B of positions gets liquidated

Walan!

About $1.1 billion worth of futures positions of more than 70,000 traders were liquidated across all exchanges, according to market data site Bybt. Nearly $400 million was liquidated on each OKEx and Huobi; followed by BitMEX ($164M) and Binance ($86M).


13 comments:

  1. Becoz John McAfee didn't eat his own dick on TV by July as promised, lol.

    ReplyDelete
  2. Walan! Both long and short can also lose money on the same trading day! Double edged sword kills both.

    The sudden price drop has liquidated nearly $1.4 billion worth of positions across major exchanges, as noted by derivatives data provider Bybt.

    The price drop triggered $144 million worth of sell liquidations or forced closure of long positions on BitMEX, the highest since May 10, according to data source Skew.
    The Seychelles-based exchange also registered buy liquidations or forced closure of short positions worth $7.6 million.

    Within the previous 24 hours, at least 72,422 positions were liquidated, with the largest, that of $10 million, occurring on BitMEX.

    Nearly 95% of BitMEX liquidations were long positions – a sign the leverage was skewed to the bullish side – which isn’t surprising given the cryptocurrency recently charted a bullish breakout with a move above $10,500.

    At press time, the cryptocurrency was trading near $11,031, representing a 5.5% drop on a 24-hour basis. Prices are still up nearly 57% on a year-to-date basis.

    ReplyDelete
    Replies
    1. If you are in crypto this is nothing of a drop very normal in the life of trading cryptocurrency.

      Delete
  3. Since both long & short can lose money at the same time, who makes all the money?

    The casino's owner or the sneaky operator?

    Any one for CFD trading?

    ReplyDelete
  4. https://www.youtube.com/watch?v=t06kEQQN9HI

    i think above is worthy article if U got the time to spare.

    Thanks CW8888.

    Shalom.

    ReplyDelete
  5. Announcing $0 commissions on online stock, ETF, and option trades.¹ Get our best-in-class platforms, comphrehensive education, and local service—now with commission-free trading.

    ¹Applies to U.S. exchange-listed stocks, ETFs, and options. A USD$0.70 per contract fee applies for option trades, with no exercise or assignment fees.

    *Service and exception fees still apply.

    The above means My TD Ameritrade Singapore Account got ZERO Brokerage?

    Wonder how they survive?

    ReplyDelete
    Replies
    1. 1. selling order-flow data to electronic clearing houses

      2. lending out idle cash balances (the big brokerages each have trillions of idle customer cash)

      3. lending out your stocks, bonds, etc.

      Less revenue than before. But nowadays all computerised & faceless, no need much staffing. After the big initial capex, the ongoing opex for maintenance, gradual upgrades, acquiring & keeping customers is relatively small.

      Delete
    2. Really amazing because of SIZE of company.

      Can it be done in LITTLE RED DOT?

      Delete
    3. Of course entice people to trade more.

      Most of us like to look for freebies, right?

      My US portfolio just collecting panadols UTD.

      Delete
    4. Hi Uncle Temperament,

      I thought US stocks are now doing very well? Definitely look better than SG's.

      "Since both long & short can lose money at the same time, who makes all the money?" - I guess the forced closure of short positions is cos those crypto that were used to loan the shorties got liquidated?
      Yeah operator makes the most money. Lol.

      Delete
  6. My US potfolio are from my 73 HP shares spin off into another 6 or 7 companies.

    At it's recent peak b4 Covid 19, it was about 55k $US now it is only 45K lol. Panadols UTD only 850 US $.

    A few spin offs are at peak to new peak prices. But these are low quantities. So still lose about 10K lol.

    ReplyDelete
  7. If you do a side-by-side comparison of the 13 US industry sectors, you'll see wide differences in performance YTD (or even over last 5 years).

    Similarly by capitalisation size or growth versus value.

    So it's not quite true that there's a mismatch or diversion of Wall Street versus Main Street. Everybody looks at the S&P500 but the S&P500 is going up because it's cap-weighted and currently very heavy into those "virus economy stocks" that are chionging.

    Employees on Main Street who happen to be working in "virus economy companies" are also doing very well! ;)

    ReplyDelete

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