Price analysis 1/22: BTC, ETH, DOT, XRP, ADA, LTC, LINK, BCH, BNB, XLM
Cointelegraph
Published Jan 22, 2021 03:50PM ET
Updated Jan 24, 2021 06:00PM ET
Aggressive profit-booking sent Bitcoin (BTC) spiraling below $29,000 on Jan. 21 but was this a sign that institutional investors dumped their positions? This is one of the main questions bothering traders because large institutional inflows primarily led the run-up to $42,000.
Cointelegraph contributor Marcel Pechman analyzed derivatives data from various exchanges, which showed professional traders might have purchased at lower levels. The fall seems to have particularly hurt the excessively leveraged traders, resulting in $460 million worth of liquidations at derivatives exchanges.
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Written By: Cointelegraph
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