Bitcoin Retreats to $87,000, Driving $866 Million in Liquidations | Key Points | Nov. 14, 2024
GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s daily recap: Bitcoin liquidations continue still!
Plus the latest crypto news stories in the last 24 hours.
Table of Contents
Market Analysis and Updates 📈
Here are the crypto highlights of the day:
Crypto Price Update
- Bitcoin (BTC): $87,740, down 1.0% over the last 24 hours.
- Ethereum (ETH): $3,230, down 3.5% over the last 24 hours.
- Solana (SOL): $205.47, down 7.0% vs the previous day.
Trending Coins Update
- BONGO CAT: $0.0682, up 114% vs the previous day.
- Peanut the Squirrel: $0.873, up 79.8% over the last 24 hours.
- Notcoin: $0.0072, down 8.1% vs the previous day.
For the daily price update, check out our post on Facebook.
Bitcoin Retreats to $87,000, Driving $866 Million in Liquidations
After a meteoric rise to near $90,000, Bitcoin has pulled back to $87,000, setting off a new wave of liquidations.
- Over $865 million was liquidated in the past 24 hours, affecting over 259,000 traders, with long positions bearing the brunt of the impact.
The numbers:
- Total liquidations: $865.96 million
- Traders impacted: 259,386 liquidations in the last 24 hours
- Largest single liquidation: A $11.87 million order on Binance’s ETHUSDT pair
Longs vs. Shorts:
- Long positions took the lion’s share, accounting for $586.48 million of the 24-hour liquidation total.
- Shorts saw $279.48 million in liquidations as the market adjusted.
The volatility from Bitcoin’s rapid price fluctuations has intensified pressure on leveraged traders.
What’s next: Closely monitor Bitcoin’s price, as further retreats could ignite additional liquidations.
Philippine Crypto News 🇵🇭
- Coins.ph listed the token $PEIPEI.
- CryptoArt PH hosts an exhibition for a cause “Shared Humanity II” at the Coins.ph HQ in BGC.
- BitPinas article: The Philippine National Police (PNP) calls for stronger cryptocurrency regulations.
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
- Lens Version 3 introduces customizable feeds and content groups, empowering users with more control over their social data.
- Delta Prime, a blockchain lending platform, suffered a second exploit in two months, losing nearly $5 million due to a code bug.
- Sam Trabucco, former co-CEO of Alameda Research, will forfeit $70 million in claims, two San Francisco apartments worth $8.7 million, and a 53-foot yacht in a proposed settlement with the FTX bankruptcy estate.
Educational Corner 🎓
- Time for the monthly update! Check out the November update of the list of Crypto Airdrops to Watch Out For in 2024.
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
- FTX’s estate sued Humpy the Whale, alleging $1 billion in losses from token manipulation and margin trading exploits, with ties to organized crime.
- A judge rejected former Celsius CEO Alex Mashinsky’s bid to dismiss two fraud charges, allowing all seven charges to proceed in his January 2025 trial.
- Alameda Research sues Waves founder Aleksandr Ivanov for $90 million, claiming he inflated WAVES token value and misused funds, causing major losses.
Community Spotlight 🔦
Meet Harvey Javier (LinkedIn): He is one of the pioneers in pushing web3 adoption in the Bicol region.
- He is the CEO of Philippine blockchain firm SparkPoint Technologies.
- Recently, he talked during the first-ever Bicol Traders Meet.
- Along with fellow crypto communities and entities, they conducted relief operations in the Bicol region for the victims of Super Tropical Storm “Kristine.”
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
- Split Capital proposed that Blur introduce a 0.5% trading fee, eliminate creator royalties, and revise its tokenomics to include two tokens for utility and governance.
- Brevis Network, a startup using zero-knowledge technology for off-chain blockchain computations, raised $7.5 million in seed funding.
- Deutsche Telekom partners with Meta Pool to run a validator node on NEAR, advancing decentralized blockchain and AI technology.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
- Bitget and Foresight Ventures invested $20 million in Telegram’s Mini Apps to expand web3 games and apps on the TON blockchain.
- Revolving Games partners with Seedify for an exclusive Open Node Sale offering discounted Scout Nodes with a 180k $RCADE airdrop.
- DOGAMÍ Academy adds a Battle Pass with rewards and cosmetics like collars and skins for players to unlock each month.
Event Announcements 📅
Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space in the Philippines!
- Manila Bootcamp | Hackers League Hackathon: November 15, 2024
- YGG Play Summit: November 19-23, 2024
- Base Manila Meetup: November 20, 2024
- Aptos After Dark: November 20, 2024
Stay Connected:
- Follow us on Twitter 🐦
- Check us out on Facebook!
- Join our Telegram group for real-time discussions!
We’d love to hear from you! Reply with your thoughts or questions.
This article is published on BitPinas: Bitcoin Retreats to $87,000, Driving $866 Million in Liquidations | Key Points | Nov. 14, 2024
