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Market Wrap: Traders ‘Whack the Beehive’ as Bitcoin Surges Then Plunges

www.coindesk.com

Bitcoin trading on Coinbase since May 31Source: TradingView Bitcoin’s sudden rise, then fall, was at least in part driven by liquidations on Seychelles-based derivatives exchange BitMEX. Over the past 24 hours, buy liquidations on BitMEX jumped during bitcoin’s price rise, then sell liquidations surged as the world’s oldest cryptocurrency dipped.

However, he told CoinDesk, the recent bitcoin price moves still have futures in “contango’” a market condition considered bullish as futures are traded higher than spot prices. Ether trading on Coinbase since May 31Source: TradingView Cryptocurrency winners on the day include stellar (XLM) climbing 6.9%, decred (DCR) up 6.2% and bitcoin cash (BCH) in the green 3%.

Read in Full: www.coindesk.com
Bitcoin BCH
$ 611.3
Bitcoin DCR
$ 28.15
Bitcoin XLM
$ 0.1423

Timeline of Bitcoin-cash, Decred, Stellar

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Bitcoin Bitcoin
69876.3000 -1.68%
Ethereum Ethereum
3522.86000 -1.53%
BNB BNB
612.052000 4.74%
Solana Solana
186.960000 0.21%
XRP XRP
0.63037600 1.28%