Thousands of traders liquidated, Bitcoin loses 3K as investors run to strong dollar

Over the past week, the crypto market has been volatile with Bitcoin losing $3K in hours as oil rose more than 20% and a whole host of other commodities rose on supply concerns.

Bond prices rose Friday as investors sought safety in bonds, pushing the 10-year Treasury yield to 1.72%. Over the past week, the dollar index has gained 2%.

A good example of this is the price of crude oil, which reached its highest level in a decade and Brent hit $112 a barrel this week. Despite being offered at a steep discount, Russian oil struggled to find buyers.

Outlook

  • According to data from FTX exchange, BTC/USD has slid to a new March low of $40,551, down 10.2% in two days.
  • 68,270 traders were liquidated for the day. A total of $242.16 million was liquidated.
  • In terms of value, it was $6.24 million on Bybit – BTCUSD
  • The S&P 500 declined 1.4% on the day following declines in European indexes on fears over the security of Ukraine’s nuclear…

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