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27/12/2024 07:42

News > The TradingView error caused a drop in Bitcoin price.

The TradingView error caused a drop in Bitcoin price.

26.12.2024 16:52

The price of Bitcoin (BTC) experienced a 4% loss due to a technical error on the popular analysis platform TradingView. As a result of the system error, Bitcoin's market dominance dropped to zero, leading to panic selling among investors. During the time it took to fix the error, $33 million worth of long positions were closed.

The cryptocurrency markets were shaken by an unexpected technical issue on December 26. A glitch in the Bitcoin dominance chart on the TradingView platform ended the calm trading conditions and caused the price of Bitcoin to drop to around $95,000.

TRADINGVIEW CHART ERROR CREATES PANIC IN CRYPTOCURRENCY MARKET

The system error appeared in the dominance chart showing Bitcoin's total dominance in the cryptocurrency market. Investors panicked and began selling when they saw data indicating that Bitcoin's dominance had suddenly dropped to zero.

According to CoinGlass data, panic selling resulted in the liquidation of $33 million in Bitcoin long positions within a four-hour period.

According to Aqua's analysis, Bitcoin dominance reached the 2021 breakout level and then pulled back. This situation indicates that altcoins may perform better than Bitcoin in the coming months. Michaël van de Poppe highlighted the potential of altcoins, emphasizing that a 20-50x increase could be expected by 2025.

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[Hata Bildir] 27.12.2024 07:42:37. #1.11#