{"id":430356,"date":"2022-04-12T10:53:32","date_gmt":"2022-04-12T07:53:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-claws-back-40k-as-24-hour-crypto-liquidations-near-500m\/"},"modified":"2022-04-12T10:53:32","modified_gmt":"2022-04-12T07:53:32","slug":"bitcoin-claws-back-40k-as-24-hour-crypto-liquidations-near-500m","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-claws-back-40k-as-24-hour-crypto-liquidations-near-500m\/","title":{"rendered":"# Bitcoin claws back $40K as 24-hour crypto liquidations near $500M"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a383d8319847\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a383d8319847\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-claws-back-40k-as-24-hour-crypto-liquidations-near-500m\/#%E2%80%9D_Bitcoin_claws_back_40K_as_24-hour_crypto_liquidations_near_500M_%E2%80%9C\" >&#8221; Bitcoin claws back $40K as 24-hour crypto liquidations near $500M &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-claws-back-40k-as-24-hour-crypto-liquidations-near-500m\/#%E2%80%9CExtraordinarily_elevated%E2%80%9D_CPI_data_due\" >&#8220;Extraordinarily elevated&#8221; CPI data due<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-claws-back-40k-as-24-hour-crypto-liquidations-near-500m\/#Whale_support_means_27000_is_%E2%80%9Cmax_pain%E2%80%9D\" >Whale support means $27,000 is &#8220;max pain&#8221;<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_claws_back_40K_as_24-hour_crypto_liquidations_near_500M_%E2%80%9C\"><\/span>&#8221; Bitcoin claws back $40K as 24-hour crypto liquidations near $500M &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) attempted to reclaim $40,000 as support on April 12 after a troubling start to the week saw BTC\/USD hit three-week lows.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/361cfd42-279b-479a-aa1e-d7cb63152cac.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CExtraordinarily_elevated%E2%80%9D_CPI_data_due\"><\/span>&#8220;Extraordinarily elevated&#8221; CPI data due<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0showed the largest cryptocurrency bouncing to $40,200 on Bitstamp Tuesday after falling to just $39,300.<\/p>\n<p>Spurred on by a bleed-out in tech stocks in particular, Bitcoin looked decidedly un<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>etizing on short timeframes, and those previously betting on bullish continuation were left empty-handed.<\/p>\n<p>According to on-chain monitoring resource <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/LiquidationData\">Coinglass<\/a>, the past 24 hours cost crypto traders a total of $428 million in liquidated long positions \u2014 the most in a day since Jan. 22.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/d90d0fe5-6aa3-48db-8866-775c102f642a.png\"><figcaption style=\"text-align: center;\"><em>Crypto liquidations chart. Source: Coinglass<\/em><\/figcaption><\/figure>\n<p>&#8220;This roll over in tech is effecting BTC as well,&#8221; Blockware lead insights analyst William Clemente wrote in a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1513582509795250177\">Twitter thread<\/a> on the current climate. <\/p>\n<blockquote><p>&#8220;Whether I agree or not, the market appears to be viewing BTC as a high beta play on tech, trading at an increasing correlation over the last month.&#8221;<\/p><\/blockquote>\n<p>The comments echoed those of former BitMEX CEO Arthur Hayes, who on Monday had forecast BTC\/USD dipping to $30,000\u00a0as a result of the macro setup.<\/p>\n<p>Adding insult to injury for the U.S. economy and associated sentiment, meanwhile was the latest Consumer Price Index (CPI) print due later on the day. Already at a 40-year high, the March readout is tipped to reinforce inflationary pressure as the first CPI data to be made public since the start of the Russia-Ukraine war.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The White House now warning of &#8220;extraordinarily elevated&#8221; inflation data. <\/p>\n<p>This upcoming March CPI print is likely going to extremely ugly.<\/p>\n<p>\u2014 Dylan LeClair  (@DylanLeClair_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DylanLeClair_\/status\/1513574686915010562?ref_src=twsrc%5Etfw\">April 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>CPI events have historically tended to induce short-term volatility in crypto markets, making Tuesday&#8217;s publication time of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bls.gov\/cpi\/\">8:30am Eastern time<\/a> of particular importance for traders.<\/p>\n<p>Some, therefore, were <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Chase\/status\/1513576116082163716\">considering<\/a> the odds of downside pressure easing once the data is made public.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Whale_support_means_27000_is_%E2%80%9Cmax_pain%E2%80%9D\"><\/span>Whale support means $27,000 is &#8220;max pain&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Analyzing support levels where large-volume investors had bought BTC, meanwhile, fellow on-chain analytics platform Whalemap declared $27,000 as the &#8220;max pain&#8221; point for the market.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin price drops to $39K, but data shows leverage traders dreaming of $50K<\/em><\/strong><\/p>\n<p>&#8220;$41,600 unfortunately did not hold. $38,400 is the new closest on-chain support,&#8221; it <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/whale_map\/status\/1513593869832798216\/photo\/1\">summarized<\/a> on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>.<\/p>\n<p>An accompanying graphic showing whale positions nonetheless showed that $41,600 &#8220;should have&#8221; held thanks to buyer interest.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/db45082f-788f-426a-9317-c8fcc2eaaa15.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD chart with support levels. Source: Whalemap\/ Twitter<\/em><\/figcaption><\/figure>\n<p>As Cointelegraph reported, meanwhile, some whales have been filling their bags below $45,000.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-claws-back-40k-as-24-hour-crypto-liquidations-near-500m\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin claws back $40K as 24-hour crypto liquidations near $500M &#8220; Bitcoin (BTC) attempted to reclaim $40,000 as support on April 12 after a troubling start to the week saw BTC\/USD hit three-week lows. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView &#8220;Extraordinarily elevated&#8221; CPI data due Data from Cointelegraph Markets Pro and TradingView\u00a0showed the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":430357,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNDQyODJhYTktNWZlMy00ODUwLWExMDQtMWQ2ZTZiMDRmZWZjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,70551,73785],"class_list":["post-430356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-inflation","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/430356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=430356"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/430356\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/430357"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=430356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=430356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=430356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}