2023-10-10 04:17:51
As the war between Israel and the Islamic organization Hamas rages, the cryptocurrency market has suffered a short-term sharp decline, with regarding $100 million in long positions liquidated in the past 24 hours.
(Previous summary: Is the master of escape from the top coming once more? The Ethereum Foundation shipped 1,700 ETH, but Buterin transferred 4,400 ETH within two months)
(Background supplement: Will war boost Bitcoin? Bloomberg analysts: BTC has a “risk-off trend” following the conflict with Hamas in Israel)
War is raging in the Middle East. The Islamic radical organization Hamas launched a raid on Israel on the 7th, causing a large number of casualties. The next day, Israel officially declared war on Hamas and launched violent air strikes in response. The death toll on both sides has exceeded 1,600, and more than 7 Thousands of people were affected by the war and were injured.
The Bank of Israel dumps US$30 billion in foreign currency to rescue the market
The intensification of the Israeli-Palestinian conflict has caused a crisis in the Middle East market. Yesterday (9), the Israeli legal currency shekel continued to fall, falling sharply by more than 3% once morest the US dollar. Real estate, finance and insurance stocks plummeted.The Central Bank of Israel issuedPress releasein order to stabilize the foreign exchange market, announced a foreign exchange dump of US$30 billion, saying that if necessary, foreign exchange transactions (FX Swap) would be conducted to increase market liquidity.
The currency market was hit hard, and more than 100 million US dollars were liquidated in 24 hours.
The war in the Middle East has also impacted the cryptocurrency market. Global investors have turned to risk aversion, with Bitcoin and Ethereum bearing the brunt. The derivatives market has also frustrated bulls, triggering liquidations of more than US$100 million.
Image source: CoinGlass
According to CoinGlass datathe cryptocurrency derivatives market has liquidated a total of US$115 million in the past 24 hours, of which nearly 90% were bullish positions, with Ethereum accounting for the most US$32 million.
Ethereum fell to a low of $1,546 in the early morning of this morning (10th) and is now trading at $1,585. On the other hand, Bitcoin fell to a low of $27,260 in the early morning and is currently trading at $27,632.
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Tags: CoinGlassMiddle East WarIsraeli-Palestinian ConflictIsraeli Cryptocurrency SlumpsCryptocurrency MarketCentral BankWar Liquidation
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