The FASB's recent accounting rule revisions are poised to provide a more favorable outlook for companies holding digital assets, helping them mitigate the unfavorable optics generated by impairment losses, as stated in the report.
In response to a sharp drop in trading volumes that have hit a four-year low, crypto exchanges have launched promotions to bolster their revenue streams.
A death cross signals a possible enduring shift towards a bearish momentum, while a golden cross implies the contrary.
And as the price of bitcoin has continued to grow, the liquidations have not slowed down either. Although the current liquidations are not as high as that recorded on Monday, they are still significant nonetheless. These liquidations had touched as high as $140 million for bitcoin, and once again have beat the $100 million mark in 24 hours.
Total liquidations seen in the past 24 hours, however, are still short of the record $10 billion worth of forced closures observed on April 17, when bitcoin fell sharply from $60,000. Since then, the market has mostly seen daily liquidations of less than $4 billion, barring today's brief spike.
The bitcoin (BTC) derivatives market has undergone a significant structural change in the past 18 months, making the asset class less vulnerable to volatility-inducing liquidation cascades.
However, since the price of the cryptocurrency has begun to settle around the $30,000 level, the liquidations have now also started settling. Leading to one of the lowest liquidation volumes in the last two weeks.
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Today we will be discussing recent data on a MASSIVE spike in Bitcoin liquidations, how will the markets respond? Next we'll look ...
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