Bitcoin Halving brings volatility back to the market
After plummeting below $60,000 yesterday, Bitcoin has bounced back up to $65,000 in a final bout of volatility before its next halving. The Bitcoin halving is currently scheduled to take place late Friday night or early Saturday morning—depending on geographic location. When it does occur, the reward paid out to Bitcoin miners that process transactions on the network will automatically be cut in half from 6.25 to 3.125 BTC.
Volatility and Price Movements
- Bitcoin price is sitting at around $64,740, up 4.6% since this time yesterday.
- BTC has climbed 8% from the low of $60,022 it saw Thursday afternoon.
- Bitcoin came within a whisker of hitting $65,000 earlier today.
Liquidations in the Market
- $293 million worth of futures positions have been liquidated since Thursday.
- Additional liquidations worth $255 million happened when BTC took a plunge on Wednesday.
- More than $1.5 billion were liquidated on Friday and Saturday last week.
Bitcoin Investors’ Perspective
- Investors who HODL their bags through the ups and downs are sitting on sizable gains.
- Old whales who filled their BTC bags years ago are the biggest beneficiaries.
- Large- and small-scale Bitcoin miners are also sitting…
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