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Over Half A Billion Dollars Wiped Out As Bitcoin Locks In At $70,000
newsbtc85d ago

Over Half A Billion Dollars Wiped Out As Bitcoin Locks In At $70,000

Whale wallets quietly shifted to buying mode over the past two weeks — even as the broader crypto market absorbed one of its worst single-day liquidation events in recent memory. Related Reading: Bitcoin Stalls Near $75K As Traders Move Coins To Exchanges A Massive Options Expiry Freezes The Price Friday’s settlement of Deribit’s March options contracts has effectively put Bitcoin on hold. The expiry involves 24,838 contracts with a combined notional value of $1.72 billion, and BTC has landed squarely at the $70,000 strike — the exact level known as “max pain,” where the greatest number of options contracts expire worthless. That pins price in a tight band. Traders expect it to hold between $69,000 and $71,000 until contracts settle later today. Max pain is not a coincidence. It describes the point where option sellers — typically institutional market makers — collect maximum losses from buyers. When open interest is concentrated enough, the market tends to drift toward that level as expiry approaches, and that appears to be exactly what happened this week. Bitcoin fell about 1.4% from midnight Thursday, landing at $70,000 by the time derivatives traders were watching closely. Longs Got Crushed While Shorts Walked Away The damage across the broader market was severe. Data shows 141,810 traders were liquidated over a 24-hour stretch, with total losses reaching $541 million. Long positions — bets that prices would rise — accounted for $443 million of that, or roughly 80% of the total. Short sellers, by contrast, lost only $97 million. Bitcoin led the wreckage at $191 million in liquidations. Ether followed at $165 million. The single largest loss was a $18 million ETH/USDT position on the Aster exchange, wiped out in one move. Open Interest, Futures Down The time breakdown tells the story clearly. The one-hour window showed relatively balanced liquidations at $18 million. But zoom out to four hours and the figure jumps to $126 million — and over 12 hours, it hit $300 million, almost entirely from leveraged buyers who got caught on the wrong side. Related Reading: Bitcoin Gains Ground On Gold Even As Both Assets Slide Futures open interest industry-wide fell 5.6% to close to $107 billion. Ether futures dropped 9% alongside a 6% decline in spot price, a combination that points to capital leaving the market outright, not just prices falling. Funding rates for Bitcoin, Ether, Solana, and BNB have all turned negative, a sign that short positions are back in demand across the board. Featured image from Unsplash, chart from TradingView

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Outlaw-Style, 2.3L-Powered 1962 Porsche 356B Coupe
bringatrailer85d ago

Outlaw-Style, 2.3L-Powered 1962 Porsche 356B Coupe

This 1962 Porsche 356B coupe is said to have spent over three decades in an Oklahoma storage unit before being purchased in 2021 by its current owners, who commissioned a rebuild with Outlaw-style modifications by Werks 11 in Troy, Texas. Completed in 2023, the build included chopping the roof and the addition of a custom Porsche 550-inspired hood with a central fuel filler, a four-grille decklid, widened rear fenders with functional intake vents, and a Pre-A-style fresh-air intake vent before a repaint in custom silver-green metallic. Power is provided by a 2.3-liter Porsche Type IV flat-four that features electronic fuel injection with individual throttle bodies and a concealed ECU, and it is mated to a re-geared four-speed manual transaxle with a short shifter. Additional build highlights include four-wheel disc brakes, dropped front spindles, custom suspension with adjustable KW front shock absorbers, 15x6.5” steel wheels, a custom exhaust with a GT3-inspired muffler, flush glass, a roll bar, Speedster-style seats upholstered in green leather, and a concealed Bluetooth sound system. This outlaw-style 356B coupe is now offered in Arizona on consignment by the selling dealer, a BaT Local Partner , with photos from the build and a clean Oklahoma title.

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Bitcoin Tests A $70K Level As Inflation Fears Surge
menafn85d ago

Bitcoin Tests A $70K Level As Inflation Fears Surge

(MENAFN - Crypto Breaking) Bitcoin is grappling with a shift in momentum after failing to sustain a rally above $76,000, slipping back under $70,000 as crude oil prices rise and inflation concerns ...

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The coolest game controller for your phone is $50 off
gnnhd85d ago

The coolest game controller for your phone is $50 off

The MCON is the closest to a Swiss army knife that a controller can be. No, it doesn’t contain a can opener, but it makes up for it with a surprising array of features. Once you attach your MagSafe- or Pixelsnap-ready phone to the top plate, pressing a button...

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South Strabane planners recommend supervisors approve data center ordinance
heraldstandard85d ago

South Strabane planners recommend supervisors approve data center ordinance

An ordinance regulating data centers in South Strabane Township is now in the hands of the board of supervisors. The township planning commission voted Thursday to recommend the supervisors adopt the ordinance, with the caveat that further changes may be made based on public comments. Township officials have been revising the document for several months. [...]

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blog_adafruit85d ago

Raspberry Pi Temperature & Humidity Network Monitor #Raspberrypi

wpnsmith shared this project on Instructables! With more details here https://github.com/jervine/rpi-temp-humid-monitor Over the past summer, my vacation home had a small water leak for three months, and I realized that had I been measuring the humidity in the effected area, I’d have seen it go to 100% for a long time and I could have [...]

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