An overview of what is happening in the crypto markets, summarised daily by Crypto Finance AG Senior Trader Patrick Heusser in the market commentary.
Market commentary
Good Morning!
To be perfectly honest, I'm glad that we had this pullback. It takes some pressure off of the slightly overstretched derivatives market, and it presents a new opportunity to everyone who isn't long enough yet.
Here are some quick stats about what happened during the 20 min $1,500 dip:
- $313 mio Bitcoin (BTC) liquidations
- $66 mio Ethereum (ETH) liquidations
- Roughly 20k bitcoins changed hands on the five main exchanges
- Altcoins suffered even more
Do you remember my comment about your "shopping" list? If you want to increase your DeFi token exposure, this morning is a good time to do it. Also, if the BTC market starts to consolidate between 17-18.5k, I believe that we'll see an outperformance of the smaller coins.
Happy Trading!
