Cryptocurrency news for today May 11

CONTENT

  • Bitcoin may continue falling ahead of halving

  • History of previous halvings confirms bearish trend

  • Cascading liquidation of positions increases pressure on the market

International consortium of news organizations developing transparency standards.

Bitcoin recovered from Sunday’s lows, but failed to return above $ 9,000. Some analysts believe that there is an even deeper drawdown to $ 6,300 ahead, which is consistent with the historical dynamics of the first cryptocurrency before the halving. Recall that the account went for hours before the block reward was reduced, which can lead to a short-term increase in volatility across the entire spectrum of the digital asset market, including through liquidation of positions.

Read about the situation in the cryptocurrency market, as well as about the key events that have occurred in the cryptocurrency industry over the past day, in our daily digest..

Crypto exchanges will become the largest sellers of bitcoin after halving – opinion

After the halving of bitcoin, cryptocurrency exchanges will take the status of the main sellers of cryptocurrency from miners. According to the infamous bitcoin analyst Willie Wu, platforms will start selling bitcoins earned from trading commissions, making them the largest sellers in the industry. It is now believed that this status belongs to miners who need to cash out rewards in order to pay the operating costs associated with mining activities. More details

Coinbase is trying to mimic NYSE crashes, says Morgan Creek co-founder

Constant technical problems against the background of a sharp change in the price of bitcoin can have a completely understandable reason. Jason Williams, co-founder of cryptocurrency fund Morgan Creek Capital, believes there may be a reasonable explanation for the frequent coincidence between bitcoin volatility surges and Coinbase technical glitches. Williams believes that under the guise of service disruptions, the popular American exchange Coinbase is trying to imitate stock exchanges, namely the New York Stock Exchange (NYSE). More details

Bitcoin crashed just like before last halving

It seems that the story around bitcoin price development tends to repeat itself, albeit in part. As history shows, a sharp collapse of the rate on the eve of the halving has already happened in the history of bitcoin. In July 2016, when Bitcoin went through a second cut, the cryptocurrency also collapsed right before the cut. More details

Bitcoin Survives $ 1.3 Billion Position Liquidation

Bitcoin, which just two days ago looked over the $ 10,000 mark, has now plummeted to $ 8,600 amid the massive liquidation of positions on crypto exchanges. On Sunday, crypto investors decided to arrange a “bloodbath” for bitcoin (BTC) ahead of the halving. The total size of liquidated positions on cryptocurrency derivatives exchanges to about $ 1.3 billion. This triggered an aggressive Bitcoin collapse today. More details

Binance cuts Bitcoin shorts, but it’s legal

Traders accused the cryptocurrency exchange of unfairly closing short positions in Bitcoin on Binance Futures, but in fact there was an automatic deleveraging. After Bitcoin (BTC) plummeted from $ 9,500 to $ 8,100, the Binance crypto exchange was suddenly blamed for canceling their lucrative trades. More details

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Cryptocurrency news for today May 11

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Bitcoin recovered from Sunday’s lows, but failed to return above $ 9,000. Some analysts believe that there is an even deeper drawdown to $ 6,300 ahead, which is consistent with the historical dynamics of the first cryptocurrency before the halving. Recall that the account went for hours before the block reward was reduced, which can lead to a short-term increase in volatility across the entire spectrum of the digital asset market, including through the liquidation of positions.

BITCOIN LIVE FOMO BY CORPORATIONS!!! PRICE COULD HIT $54,000 THIS WEEK! Daily Crypto News

Read about the situation in the cryptocurrency market, as well as about the key events that have occurred in the cryptocurrency industry over the past day, in our daily digest..

Crypto exchanges will become the largest sellers of bitcoin after halving – opinion

After bitcoin halving, cryptocurrency exchanges will take the status of the main cryptocurrency sellers from miners. According to the infamous bitcoin analyst Willie Wu, platforms will start selling bitcoins earned from trading commissions, making them the largest sellers in the industry. It is now believed that this status belongs to miners who need to cash out the reward in order to pay the operating costs associated with mining activities. More details

Cryptocurrency news for today May 11
Cryptocurrency news for today May 11
Cryptocurrency news for today May 11

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