Bitcoin doing bitcoin things again
— Joseph Young (@iamjosephyoung) June 2, 2020
ONE WAY TICKET TO REKT CITY!!
ALL SHORTS REKT
ALL LONGS REKT pic.twitter.com/Cb1kLIN2gq— Ivan on Tech (@IvanOnTech) June 2, 2020
$118,551.00
-0.56%$3,397.34
3.73%$3.24
8.37%$716.50
2.16%$172.89
0.41%$0.999902
-0.00%$0.211233
2.26%$3,397.74
3.74%$0.315881
4.06%$0.790424
4.13%$46.21
-3.33%$118,507.00
-0.43%$0.46368
-0.25%$4,089.90
3.80%$3.99
-0.88%$16.88
0.66%$0.246497
2.85%$493.61
-1.05%$22.49
0.91%$3,631.94
3.32%$0.00001405
-0.45%$8.89
1.16%$3.16
0.35%$3,409.72
4.14%$100.92
3.24%$0.999907
0.00%$1.00
-0.02%$45.07
0.10%$4.14
-0.77%$338.50
1.49%$118,400.00
-0.72%$0.00001328
-0.92%$4.74
1.53%$1.002
-0.00%$8.76
-2.51%$318.93
-2.63%$427.01
-2.44%$0.111483
3.29%$2.78
2.09%$5.17
-1.03%$0.437527
-1.17%$1.018
6.33%$1.18
-0.04%$19.70
-0.21%$5.52
-1.42%$209.15
0.04%$1.00
0.00%$46.65
-2.69%$0.00003472
-4.29%$0.765199
4.22%$0.295743
3.93%$0.092675
2.12%$0.369637
-0.51%$0.437847
-2.03%$1.00
0.00%$0.02536048
0.79%$4.76
0.61%$4.05
0.39%$0.230369
-1.86%$3,391.16
3.36%$0.348136
-5.17%$0.753136
-1.49%$9.78
-2.88%$4.52
0.37%$1.059
-0.01%$0.00546869
-11.49%$15.91
0.74%$1.084
-3.02%$0.02935897
-11.13%$2.64
-0.65%$118,602.00
-0.49%$182.70
-0.25%$0.078307
-1.83%$112.97
-1.82%$1.76
-6.41%$3,570.03
3.79%$0.531889
-2.91%$3,864.98
3.42%$4.88
0.23%$11.82
0.78%$1.48
13.54%$1.004
0.56%$0.999859
0.01%$0.01988662
13.94%$1.92
-2.96%$1.00
-0.04%$13.73
2.16%$1.33
1.67%$4.47
-0.31%$0.816205
0.42%$3,583.02
3.89%$0.934011
14.57%$0.078466
-0.67%$0.00013152
16.71%$3,627.63
3.73%$0.696804
-3.45%$0.37387
-0.21%$1.79
3.20%$3,650.70
3.12%$3,563.59
3.04%$1.00
0.01%$118,325.00
-0.63%$1.052
-6.00%$0.539579
-1.92%$0.103283
-1.37%$0.999493
-0.06%$118,320.00
-0.66%$714.54
1.87%$3,345.69
-0.31%$193.37
-0.09%$0.157203
1.92%$118,877.00
-2.46%$11.33
24.60%$1.11
0.06%$2.58
3.59%$0.224458
0.65%$0.554672
-1.46%$26.26
-1.76%$225.02
0.02%$0.999517
-0.04%$0.836223
-1.16%$3,336.89
-0.29%$0.918622
-0.75%$0.01689372
-1.60%$0.01807795
-0.54%$0.897747
-3.11%$0.311654
-1.81%$2.85
-4.37%$3,635.43
3.91%$3,380.40
3.10%$0.124842
-0.54%$3,616.98
5.89%$44.29
-0.79%$111.82
0.01%$0.269215
-0.46%$0.00000069
-1.07%$4.12
-3.06%$0.644029
-1.77%$0.998434
-0.00%$1.89
-5.01%$118,279.00
-0.62%$0.999965
-0.01%$2.03
-1.93%$0.01865245
-0.31%$0.397079
-1.54%$3.41
7.41%$1.081
-1.18%$0.452012
-2.72%$0.00000156
-11.66%$0.363292
-9.42%$3,381.37
3.21%$0.312803
-2.13%$0.00870376
-0.97%$118,202.00
-0.43%$0.059515
-3.90%$0.997386
-0.03%$1.62
0.92%$46.46
-2.67%$118,479.00
-0.59%$0.556105
0.57%$28.11
-4.31%$1.001
0.00%$0.00604922
-5.93%$0.00925101
10.35%$3,403.07
3.69%$0.209644
1.45%$3,660.16
5.18%$1.28
-3.59%$0.073855
4.26%$0.659456
-1.47%$0.99992
-0.00%$0.20551
6.64%$1.16
-0.04%$0.09941
-3.84%$3,727.79
3.07%$0.9982
-0.31%$0.415921
4.07%$0.137379
-5.51%$0.643953
-0.59%$0.483103
-1.64%$0.444567
-5.93%$3,384.53
3.76%$7.22
-2.73%$1.50
2.01%$0.430338
-0.62%$6.60
-0.10%$49.35
-1.63%$46.53
-2.58%$16.18
-1.23%$0.00000046
3.68%$0.218093
-3.11%$7.91
-1.08%$3,696.47
2.82%$0.318021
-5.30%$0.00002166
-2.49%$2.57
-1.57%$0.059192
-4.01%$10.75
0.01%$0.091246
2.69%$1.71
-3.02%$1.093
-0.00%$3,391.99
3.78%$0.999901
-0.00%$1.001
-0.75%$0.04143777
-1.08%$3,383.19
3.26%$119,242.00
-0.44%$0.00401577
-6.09%$0.150793
-3.84%$1.004
0.31%$0.397561
-5.51%$0.0075017
1.08%$0.857445
-0.18%$0.00560424
-5.44%$0.550275
-1.95%$4,093.02
3.49%$0.999924
-0.01%$189.24
0.41%$0.03767456
1.26%$1.36
-2.64%$139.24
2.30%$0.0190039
0.88%$12.30
2.34%$0.551241
-0.03%$0.359057
-2.76%$118,152.00
-0.83%$4.35
-11.74%$0.00421052
9.49%$0.000063
-1.25%$27.24
0.54%$0.999845
-0.00%$0.03266046
-1.96%$21.14
-0.48%$0.739807
-1.78%$0.816469
-0.19%$0.229822
-2.05%$22.43
0.67%$0.329195
-4.94%$1.12
-3.27%$3,543.32
3.24%$0.707992
3.49%$0.00354403
0.68%$0.999132
-0.04%$0.997638
-0.23%$3,840.56
4.56%$0.0000015
8.71%$0.303316
-0.67%$0.999344
-0.02%Reading
A sudden surge in sell orders has dropped the price of Bitcoin (BTC) below $10,000. The price of Bitcoin fell to $9,700 before heading even further, down to $9,400.
At time of writing, the price is currently recovering a little, back up to $9,500 but the price action isn't over yet.
Other cryptocurrencies are also falling, with Ethereum (ETH) down to $230 and XRP at $0.20. OMG has also fallen five percent in the market drop, losing some of its gains it experience due to its Tether (USDT) integration.
Bitcoin only broke upwards through the $10,000 mark yesterday evening. It reached highs of $10,500 before falling back to $10,100 where it rested for most of today.
"Bitcoin doing bitcoin things again," tweeted analyst Joseph Young, having noticed the price drop.
Bitcoin doing bitcoin things again
— Joseph Young (@iamjosephyoung) June 2, 2020
"Welp. Looks like bitcoin didn’t fix this," added podcast host Udi Wertheimer.
When the price of Bitcoin broke up through $10,000, it liquidated a lot of traders who were shorting the cryptocurrency (betting the price would go down). According to Datamish, $135 million was liquidated on Bitcoin futures exchange BitMEX in the last 24 hours, likely during the spike.
However, as the price came down, many traders going long were also liquidated to the tune of $100 million. The price even dropped further on BitMEX—falling down to $8,600—making things worse.
ONE WAY TICKET TO REKT CITY!!
ALL SHORTS REKT
ALL LONGS REKT pic.twitter.com/Cb1kLIN2gq— Ivan on Tech (@IvanOnTech) June 2, 2020
Some traders jokingly blamed those who had said we will never see Bitcoin below $10,000 again. Just a few hours prior, crypto personality Hodlonaut (who invented the Bitcoin Lightning Torch) tweeted, "I don't usually make predictions. But this is too obvious not to call. We will never see Bitcoin below $10k again." He might regret that tweet.
This article has been updated with data on the liquidations, more tweets and further price updates.
Pseudonymous Bitcoin creator Satoshi Nakamoto is now the 11th richest person in the world, as the inventor's BTC portfolio—based on wallets tied to the long-silent crypto icon—has risen above $130 billion, according to Arkham Intelligence. It comes as the leading cryptocurrency has hit a spree of new all-time highs, rising by 14% over the past month. That puts the elusive figure’s net worth above that of Microsoft co-founder Bill Gates, who is worth $117 billion, and Dell Technologies founder Mi...
An Australian man is attempting to break the world record for the “most tattoos of the same name,” while livestreaming the journey on Solana meme coin platform Pump.fun. What name is he tattooing on himself? Pump.fun, of course. The 27-year-old told Decrypt that the world record attempt is part of a broader plan to become a full-time livestreamer with a “virtual tattoo studio.” Zachary Gollan, also known as Donnie Darko on X, has tattooed “Pump.fun” on his arm 415 times as of Thursday morning,...
The U.S. House of Representatives narrowly passed House Resolution 580 with a 217-212 vote on Wednesday, reviving the path forward for three major crypto bills after a record-breaking procedural standoff that stretched nearly 10 hours. Eight conservative Republicans who initially blocked the legislation on Tuesday switched sides after House leadership agreed to attach the Anti-CBDC Surveillance State Act to the National Defense Authorization Act, ensuring the prohibition would pass with the must...