Breaking Crypto News – How Did Bitcoin and Ether Perform Over the Weekend Amidst the $400M Liquidation Rout?

Breaking Crypto News – What Impact Did the $400M Liquidation Rout Have on Bitcoin and Ether?

Breaking Crypto News – The market momentum was dampened by a $400 million leverage flush-out on Friday, and as open interest and trade volumes declined, Bitcoin and Ether saw little change over the weekend. The FOMC meeting on Thursday, the CPI announcement on Wednesday, and Janet Yellen’s speech on Friday are among the macroeconomic catalysts that analysts at Presto Research stated in a market brief as reasons why they believe market volatility will resume next week.

Higher than Expected NFP Statistics Negatively Affected Bitcoin

Once the non-farm payrolls (NFP) numbers were released on Friday, bulls lost money on bitcoin futures due to a record build-up of leverage. With 275,000 new jobs added to the US economy as opposed to the projected 185,000, the NFP result was better than anticipated. BTC dropped sharply from $71,000 to $69,000 after the announcement.

Open interest, or the total amount of outstanding futures contracts for different tokens, has decreased from $99 billion to $60 billion since Friday, suggesting that traders have substantially reduced their bets. In the last day, volumes decreased by 10%, according to Coinglass data.

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