"Bitcoin ended the week flat at $80,200 as markets largely ignored U.S.-Iran military skirmishes. The S&P 500 jumped 17.2% since March, adding $10 trillion in value as geopolitical fears receded. Bitunix analysts see a tug-of-war ahead, with a potential $78,000 breakdown triggering liquidations."
"Bitcoin traded sideways on Friday as global markets appeared to shrug off the latest skirmishes between the U.S. military and Iran's Islamic Revolutionary Guard Corps in the Strait of Hormuz. Similarly, the latest data showing nonfarm payrolls surging by 115,000 in April failed to give the cryptocurrency a boost as it oscillated between $80,200 and $79,200."
"While the stability halted a recent slide that erased gains made at the start of the week, bitcoin's price action over 24 hours meant it was poised to end the workweek marginally higher. Its market capitalization remained stuck just under $1.6 trillion, a nearly 2% increase from seven days ago."
"Predictably, the flat price action resulted in a marked decline in leveraged positions liquidated over a 24-hour period. Bitcoin alone saw $28.3 million in long bets liquidated in the period, versus $14.5 million in shorts. For context, approximately $91 million in overleveraged long positions were wiped out in the preceding 24 hours, compared with $12 million in shorts."
Bitcoin traded sideways near $80,000 over the last 24 hours and ended the week flat at $80,200. U.S.-Iran military skirmishes and geopolitical tensions did not materially change bitcoin’s price, while the S&P 500 rose sharply since March. Nonfarm payrolls increased by 115,000 in April, yet bitcoin continued oscillating between $80,200 and $79,200. The stability halted a recent slide and left bitcoin marginally higher for the workweek. Market capitalization stayed just under $1.6 trillion. Leveraged liquidations declined as price action flattened, with $28.3 million in long liquidations versus $14.5 million in short liquidations for bitcoin, and $202 million total across crypto.
#bitcoin-price #crypto-derivatives-liquidations #geopolitical-risk #us-economic-data #stock-market-rally
Read at news.bitcoin.com
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