Bitcoin price $81,568 after $431 million in long liquidations: how to proceed now

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.The Nasdaq closed 2.6 percent lower, Bitcoin fell to $80,989 overnight and derivatives exchanges closed leveraged long positions worth several hundred million dollars. What is behind the wave, which levels apply today and what you can settle now on leverage, the holding period and the buying route.Bitcoin stands at $81,568 on Friday morning, around 1.5 percent lower than 24 hours earlier. The trigger did not come from the blockchain but from Wall Street: the Nasdaq closed 2.6 percent lower on Thursday after Tesla cut its spending forecast and doubts about the large investments in data centres returned. Overnight the price slipped to $80,989, and derivatives exchanges forcibly closed leveraged long positions worth several hundred million dollars. On a morning like this, the percentage figure matters less than the question of where your own risk sits. This article places the night in context, explains the mechanism behind the liquidation wave, names the levels of the day with reas...