$15 Million Wiped Out on BitMEX as Bitcoin Prints $400 “Darth Maul” Candle

Bitcoin has seen quite the bout of volatility over the past hour or so. After trading at $9,700 for most of Monday, the cryptocurrency suddenly surged as high as $9,900 on the influx of a buying volume. But once it hit $9,900 the trend quickly reversed, with the asset plunging nearly $400 in 10 minutes. Analysts liken such a candle to the lightsaber of Darth Maul, the Star Wars villain whose weapon produced lasers from […]

$100 Million Wiped From BitMEX as Bitcoin Dives $1,500 in Three Minutes

Just over 12 hours after Bitcoin crossed $10,000 for the first time in weeks, the cryptocurrency dove off a proverbial cliff. Approximately twenty minutes ago, the crypto was hit with a barrage of sell orders that took the asset as low as $8,600 on BitMEX (seen below). On spot exchanges and some other derivatives exchanges, the cryptocurrency held the low-$9,000s. On BitMEX, the asset dove more than $1,500 in three minutes in a massive move […]

Currency.com vs Bybit vs Bitmex: Cryptocurrency Exchange Review 2020

Cryptocurrencies are gradually growing in popularity among traders as a tradable asset class on a par with traditional assets such as stocks, forex, and commodities. The appeal of cryptocurrency trading is growing due to its inherent volatility, massive trading volumes, 24-hour market, and opportunities for arbitrage. Now, everyone from retail investors to crypto whales, VCs, family offices, and institutional players, wants a piece of the crypto pie. Currently, three of the top-rated platforms for trading […]

$25 Million in BitMEX Longs Wiped Out as Bitcoin Crashes Below $9,000

Just days ago, traders were expecting for Bitcoin to break past $10,000. Now, the cryptocurrency is trading at $9,000 flat, plunging as bulls fail to maintain the momentum after nearly eight weeks of gains. While Bitcoin already sustained weakness yesterday, the latest drop lower — which has taken BTC from $9,500 to $9,000 — caught some traders off guard. According to crypto derivatives data tracker Skew.com, approximately $25 million worth of long positions were liquidated […]

Crypto Traders Took a Massive $1.2B Hit During Yesterday’s 15% Crash

Few expected the crypto market crash that transpired yesterday. At times, Bitcoin was so volatile that the services of leading cryptocurrency exchange Coinbase temporarily went down, their status page suggests. No group felt the volatility as much as traders, which are especially vulnerable drops due to their utilization of leverage. Leverage allows traders to borrow money from exchanges, thus increasing potential returns but also increasing the risk. Crypto Traders Lost Over $1 Billion Worth of […]

Bitcoin’s Order Book Is Stacked With Bids: Here’s What That Means for BTC

Bitcoin has seen an influx of buying pressure over the past few weeks. This much has been made clear from the cryptocurrency’s 130%+ recovery from the lows. While BTC has stalled since reaching $9,500 last week, data indicates that there is still market demand for crypto. This indicates that Bitcoin remains in an uptrend, making $9,500 just another pitstop before higher highs. Bitcoin’s Orderbook Shows Massive Buying Demand According to a crypto trader, BitMEX’s order […]

These 2 Factors Show Bitcoin Will Shake Off Chilling “Perfect Reversal” Signal

Bitcoin has been on a tear over the past two days. After breaking past $7,800 on Tuesday evening, the cryptocurrency entered a steep uptrend that saw no serious pullbacks until 36 hours later when BTC hit $9,500. This marked a 20% rally from the lows. This move largely caught traders off guard, with crypto derivatives data site Skew.com reporting that over $100 million worth of BitMEX short positions were liquidated during the rally from $7,800. […]

BitMEX CEO: ‘All in, Motherf*ckers’ on Bitcoin and Gold

BitMEX founder Arthur Hayes put out a thought-provoking piece on the company blog today. He talks about the effect of the COVID-19 crisis on the global economy and states that nothing will ever be the same again. “The USD fiction is over. It’s time for a new mental crutch.” He’s opting for Bitcoin and gold–what will your fiction be? Arthur Hayes Paints a Grim Picture of the Post COVID World As charismatic as ever, this […]

BitMEX Donates $400,000 to Cyber Security Organisation

BitMEX parent company HDR Global Trading Limited has become a partner of nonprofit Shadowserver Foundation. HDR will sponsor the nonprofit by offering $400,000 over the next four years. BitMEX Operator Becomes Member of Shadowserver Industry Alliance Shadowserver Foundation is an organization that collects and analyzes data on malicious activity on the Internet. HDR has become a member of the nonprofit’s industry alliance aimed at improving the Internet security. Shadowserver was established in 2004 and has […]

BitMEX Long on Bitcoin Development, Increases Grant to $100K

HDR Global Trading that owns and operates BitMEX is committed to “Bitcoin development is for the long term”. Today, the company announced that it will increase its 2019 grant to Bitcoin core dev Michael Ford to $100,000. BitMEX Ups Core Developer Grant to $100K According to the BitMEX blog, and as tweeted out by BitMEX Research on 31 Mar 2020, the company will be increasing its grant this year to Bitcoin core developer Michael Ford […]

BitMEX Opens Up About Its Crypto Insurance Fund

The extreme volatility on March 12 and 13 left many traders reeling. And also with a lot of questions. Today, the leading crypto derivatives exchange BitMEX opened up about its insurance fund. BitMEX Insurance Fund ‘Last Line of Defence’ In its official blog post, BitMEX explains that the exchange received a lot of questions over the performance of its insurance fund on March 12 and 13. It also details what the insurance fund is and […]

Bitcoin’s 6-Year High Volatility is Driven by These Factors

Whereas crypto markets are known for volatility, Bitcoin has not experienced price swings on the present scale since 2014. Although the current global turmoil no-doubt plays a role, investors increasingly believe market manipulation is also to blame. Crypto Community Blames The Bitcoin Whales Forty percent of respondents in a Bitcoinist poll are convinced that whales are behind Bitcoin’s current peaks and valleys: Is this #BTC pump real or ‘whale-manipulated’? — Bitcoinist.com (@bitcoinist) March 20, 2020 […]

BitMEX Refunds Traders After Latest DDoS Attacks

Ever since the shock Bitcoin crash on Mar 13 when BitMEX went offline due to “hardware issues,” users have been awaiting an explanation. Well, today, they got them. However, “subject to two distributed denial-of-service (DDoS) attacks” isn’t convincing many. BitMEX Hit by 2 DDoS Attacks According to an update on the BitMEX blog, supposedly written by CEO Arthur Hayes himself, the team has been “working around the clock” to figure out what happened. Upon its […]

Bitcoin Crash Could’ve Been Predicted 3 Days Early, Here’s How

While most of us sat watching the carnage with a mix of desperation and disbelief, according to data from CryptoQuant, many traders could have been spared. The latest bitcoin crash could have been predicted three days earlier. Here’s how. Bitcoin Crash Was Easy to Predict from BTC Inflows If you look at the chart below, you can see the volume of bitcoin inflows into all major exchanges before the crash. All inflows surged at around […]

Sunday Digest: Bitcoin Price Misery and Libra Losing Support

The White House doctor has proclaimed President Trump to be clear of the virus, after a meeting with Brazilian officials who later tested positive last week. Of course, this is the same doctor who allegedly called Trump the healthiest man he has ever assessed, shortly after he came to office. Still, time to buy discounted bitcoin before the apocalypse… just sayin’. Bitcoin Price: Buy Now At 50% Discount If we thought the past week started with […]

Major Bitcoin Influencer ‘Can No Longer Recommend’ Trading On BitMEX

Following the recent major bitcoin and cryptocurrency market crash, popular influencer WhalePanda tweeted that he could “no longer recommend” trading on BitMEX, following criticism of the platform’s handling of the situation. While prices plummeted, BitMEX, ‘very conveniently’ according to WhalePanda, went offline twice during peak trading, citing firstly a ‘hardware issue’ followed by a DDOS attack. The Smoking Gun Some traders and analysts suggested that there was no hardware issue, an idea which was swiftly […]

Whale Transfers Bitcoin Worth $10 Million to Bitstamp; Dump Incoming?

Bitcoins worth $10 million dollars have been transferred to the cryptocurrency exchange Bitstamp from an unknown wallet address. Will BTC dump again?  Just two days after Bitcoin’s biggest crash in over 10 months, falling from a value of around $7200 per BTC to under $5500 where it currently resides, a huge transfer of the cryptocurrency has taken place today. According to whale-alert.io’s Twitter update: 2,000 BTC were transferred from an unknown address to the cryptocurrency […]

FTX Exchange Pays Users’ Gas Fees Out of Own Pocket

After unprecedented trading volumes and some network congestion, the FTX exchange introduced special measures to boost trader confidence. FTX Exchange Compensates Traders for ETH Congestion The rising gas fees for Ethereum (ETH) meant traders faced potential difficulties withdrawing funds. The exchange also showed lagging transactions for tokens, potentially leading to losses. For that reason, FTX stepped in to take the load off traders. “In view of the serious congestion of the Ethereum blockchain yesterday, FTX […]

Bitcoin Crashes Under $6K on BitMEX, Crypto Market Sheds $56 Billion

Bitcoin (BTC) is depreciating rapidly today, with more than 11% loss in the past hour. The price dipped on panicked trading, crashing under $6,000 on BitMEX. Bitcoin in Freefall after Panic Sets In Bitcoin prices showed they suffered even more from the overall uncertainty on the stock markets. After tentatively stabilizing for a day, BTC unraveled, with a slide that cannot be stemmed. The extreme panic and the rapid movement on the futures market quickly […]

BitMEX CEO Arthur Hayes Makes New Bitcoin Prediction

BitMEX CEO and co-Founder, Arthur Hayes, just announced his latest Bitcoin prediction. Billed as “A look into my trader brain during this time of intense market volatility,” his latest trader digest gives his view on current global markets, and of course, Bitcoin. Bitcoin Gotta Go Down To Go Up? Considering the global pandemic concerns and return of macroeconomic volatility, Hayes notes that even at current levels, Bitcoin has outperformed most indexes in 2020. However, he […]