Bitcoin Struggles To Remain Above $20,000 As Crypto Investor Loses $2 Million On OKex.

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The narrowest range for Bitcoin trading since October 2020 occurred, with a range of just 5.4%. Nearly 40% of the market value of all crypto assets is made up by bitcoin. After the downturn of the previous two years, prices increased consistently over a number of months. Eventually pushing Bitcoin to a new high in April 2021.

49,683 traders were liquidated for a total of $188.94 million. Okex received the largest single liquidation order for ETH-USDT-SWAP, totaling $2.17 million.

Recently, bitcoin has been slightly outpaced by ether (ETH), which has risen by 1%. The main cause of the increased leverage is likely the eagerly awaited upgrade on the Ethereum blockchain scheduled for later this month.

Information obtained by blockchain research firm Kaiko, the open interest in perpetual swap contracts using Ether as the base currency reached a record high at the end of August.

Nairametrics.

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