The post Latest BTC price drop cleans out six months of long liquidity appeared com. The recent dip of BTC to the $88,000 range wiped out long-term accumulated liquidity. Since the October 11 liquidation, the market has continued to cause deleveraging of long positions. BTC caused liquidations of long positions, some of them accumulated over the past six months. The liquidation heatmap suggested the recent BTC move wiped out most of the available liquidity down to the $90,000 level. Coinglass data shows the recent slide directly attacked the price levels with the most significant accumulation of long positions. For now, BTC has not attempted a short squeeze to return to a higher range. BTC has entered a historically strong quarter, but a year-end rally is not guaranteed. After outperforming in Q3, BTC is now setting expectations for a lower range toward the end of the year. Open interest for BTC still hovers around $32B, with no meaningful rebuilding since October’s liquidation. The current ongoing liquidations are raising the issue of whether the market was set for a recovery or for a deeper bear market. After the latest dip, the crypto Fear and Greed Index slid to 11 points, down from a recent local low of 17 points. The metric gauges the attitude of derivative traders, who are now more reluctant to hold aggressive long positions. BTC liquidations continue to drive price action This time around, BTC had over $576M in long liquidations for the past 24 hours. The liquidation level itself was relatively normal, but the move to liquidate older positions suggested traders were ready to attack more available liquidity. As Cryptopolitan reported, the latest dip wiped out the gains since the fall of 2024, leaving BTC with a net annual loss. In the past two months, BTC volatility also remained high, creating the perfect conditions for aggressive liquidations. Based on available activity and signs.
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Canaan lands $72M backing from trio of institutional investors
The post Canaan lands $72M backing from trio of institutional investors appeared com. Canaan Inc., one of the leading crypto mining companies, announced a new investment round from BH Digital, a division of Brevan Howard. The firm also tapped Galaxy Digital and Weiss Asset Management. Canaan Inc. attracted a $72M strategic investment from BH Digital, Galaxy Digital, and Weiss Asset Management. The deal was completed through the purchase of American depository shares, each representing 15 Class A common stock of the company. The deal did not include warrants, options, or other derivative instruments. Canaan is changing its capital markets strategy, aligning with the goals of the investor firms, announced the company. “We are deeply grateful to Brevan Howard, Galaxy Digital, and Weiss Asset Management for their participation,” said Nangeng Zhang, chairman and CEO of Canaan. “The investment will support Canaan’s continued innovation and growth across all areas of its business, reinforcing its commitment to strengthening the Bitcoin ecosystem through every phase of the cycle,” said Zhang. As Cryptopolitan reported earlier, the legacy BTC miner and rig producer is now trying to join the AI trend with new types of data centers. Canaan taps funds with long-term outlook The institutional ownership signals greater confidence in the company, as well as its long-term potential. Zhang noted that the purchase of common stock, instead of warrants or derivatives, reflects confidence in the company’s fundamentals. Canaan retains a relatively small treasury of 1, 582 BTC, though it seeks more liquidity and capital to reduce reliance on raises or stock dilution. Canaan will also add high-return computing projects, moving beyond crypto mining. In October, Canaan also benefited from interest in its Apollo mining computers, securing an order for 50, 000 machines for the US market. Canaan also operates eight data centers, taking up the model of small-cap computational operations, while making a bigger pivot into AI. As a smaller mining company, Canaan.