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Bitcoin's Metrics Still Strong After Recent Rejection At $12,400

Emily Mason

Summary: Bitcoin's recent rejection at $12,400 caused derivatives traders to cash out with $234 worth of futures contracts being liquidated across exchanges. Despite this, Bitcoin is still showing some strong metrics. Traders at major exchanges have held long positions since late July and haven't liquidated them even as Bitcoin's price has experienced some volatility, data compiled ...

Bitcoin's recent rejection at $12,400 caused derivatives traders to cash out with $234 worth of futures contracts being liquidated across exchanges. Despite this, Bitcoin is still showing some strong metrics.

Traders at major exchanges have held long positions since late July and haven't liquidated them even as Bitcoin's price has experienced some volatility, data compiled by Cointelegraph shows.

Trading volume across exchanges dipped in July, but has started to recover in August, indicating that there is still active participation in the market, Glassnode data shows. 

By Emily Mason

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