As known from:
known from Coinwireknown from Benchknown from Coinindex
  • About
Contains commercial content
Cryptogambling / Bitcoin Price Tumbles as Market Correction Takes Hold

Bitcoin Price Tumbles as Market Correction Takes Hold

Publish Date: 20/04/2023

Bitcoin gains on April 19 were unexpectedly reversed when a series of lengthy liquidations pushed BTC/USD tumbling down.

According to Trading view, Bitcoin is currently at $29,015 on Bitstamp.

The abrupt advance came after an equally powerful recovery over the $30,000 barrier the day before, and bulls eventually failed to hold higher levels.

Bitcoin thus dropped to its lowest level since April 10 as volatility resurfaced and the upswing faced its most recent obstacle.

Micheal Van de Poppe, founder and CEO of trading firm Eight, reacted by saying “Deep correction on the markets, as Bitcoin can’t hold at $29,700-29,800 and shoots downwards through a cascade of liquidations”

Michaël van de Poppe
2023-04-19 08:22
Deep correction on the markets, as #Bitcoin can’t hold at $29,700-29,800 and shoots downwards through a cascade of liquidations.
674 123

Hours earlier, the monitoring tool Material Signals had alerted users to shifting market dynamics on the Binance order book, claiming that the outcome might still go either way, favoring bulls or bears.

Material Indicators
2023-04-19 03:27
Long day. Time to get some sleep and recharge for tomorrow. Going to leave you with one more #FireChart which shows bids in the $28k – $29k range continuing to move up toward the active trading range. Watching to see if bids replenish enough to take another shot at $31k or become…
116 4

 What some Traders think

Some traders, including bullish trader Crypto Kaleo, maintained their optimism.

He reminded Twitter users that “dips are gifts” and described the retracement as “beautiful” for tagging the range lows.

Meanwhile, total crypto long liquidations for April 19 on platforms tracked by data resources were around $175 million at the time of writing.

What you should keep in Mind this week about Bitcoin

Volatility resurfaced around the weekly close on April 16.

With it, BTC/USD returned to $30,000 for the first time since last week, when it achieved 10-month highs above $31,000.

The move was widely anticipated by traders and analysts, who said that it would represent a good pullback to be ready for the uptrend’s continuance.

2023-04-12 01:54
Just following my plan from before. Don’t want to hindsight post later on is all.
120 3

Skew, an analytics resource, observed the impact of the dip on exchanges and highlighted a clear divergence between spot sellers and derivatives traders.

Skew Δ
2023-04-17 01:40
$BTC LTF Aggregate CVDs & Delta Spot driven sell off out of daily open here, there was a clean divergence between spot selling the bounce early & perps longing into the bounce.
170 16

Popular trader and analyst Rekt Capital, while striking an optimistic note said that:

“$BTC is currently successfully retesting the top of the Bull Flag price broke out from a few days ago. Hold here would be a good contributing sign for continuation”

Macroeconomics Discussion centred on Earnings

With Ether overtaking Bitcoin, the coming days will offer risk asset traders some comparative respite.

The Kobissi Letter Summarized that earning seasons are officially here, following recent development with significant players such as Tesla and Netflix as well as a number of banks that are closely monitored by market participants.

A financial expert who also focuses on cryptocurrencies, Tedtalksmacro, summarized the present climate as being extremely conducive for continued Bitcoin price growth last week.

Key Takeaway

  • Bitcoin’s gains on April 19 were unexpectedly reversed due to liquidations, causing its price to tumble down.
  • Some traders remain optimistic despite the dip in Bitcoin’s price.
  • The macroeconomic discussion in the cryptocurrency market is centred on earnings and significant players like Tesla, Netflix, and banks.

Signing off

The recent reversal of Bitcoin’s gains due to liquidations highlights the ongoing volatility and unpredictability of the cryptocurrency market. Traders must remain vigilant and adapt their strategies accordingly to mitigate risks and take advantage of market opportunities. Additionally, the macroeconomic discussion on earnings and the performance of significant players like Tesla and Netflix, as well as banks, underscores the importance of keeping track of market developments and their potential impact on the cryptocurrency market. Overall, these developments reinforce the need for traders to stay informed and agile in navigating the ever-changing crypto landscape.

Latest News
Warner Bros. introduces NFT bundles for 1978’s ‘Superman: The Movie’
Warner Bros. Home Entertainment has unveiled the latest ...
Crypto scams to intensify with AI, warns Cardano’s Charles Hoskinson
Cardano co-founder Charles Hoskinson has issued a warning ...
European crypto exchange WhiteBIT enters Nigerian market
European cryptocurrency exchange WhiteBIT has expanded its operations ...
Top Crypto Exchange Sites
Crypto Exchange Guide
  • Crypto Exchanges
  • Betting Exchange
Top Brands
Top Bonuses Review
Wow Vegas
Wow Vegas
Wow Vegas Review
Fortune Coins
Fortune Coins
Fortune Coins Review
Sweeptastic Review
4.5/5 Review
4.4/5 Bonus
5% Rakeback
T&Cs apply
Wow Vegas
Wow Vegas Bonus
30 SCs on 1st Purchase + 4.5 SCs FREE
T&Cs apply
Fortune Coins
Fortune Coins Bonus
Get up to GC 360,000 + Free FC1,000
T&Cs apply
Sweeptastic Bonus
LC 10,000 for Registration
T&Cs apply
4.5/5 Bonus
Daily Rewards up to 10k VC$
T&Cs apply

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or; or (b) Gamblers Anonymous at 855-2-CALL-GA or

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

Move to Top
Your Bonus Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site