BREAKING: BitMex Trading Engine Experiences Downtime, Bitcoin Below $21,000

Abstract:

• Crypto alternate BitMex alerted customers to an unscheduled buying and selling engine downtime on Wednesday.
• The platform stated buying and selling services had been suspended attributable to technical points and guaranteed customers that each one funds and belongings are secure.
• Right this moment’s downtime comes amid a rally in crypto costs and large quick liquidation occasions throughout Bitcoin, Ether, and different digital currencies. 

On Wednesday, cryptocurrency alternate Bitmex informed customers of suspended buying and selling on the platform attributable to technical points. Bitmex assured customers that “all funds are secure” whatever the unscheduled buying and selling engine downtime. 

In keeping with the replace, buying and selling halted on the platform round 14:51 UTC. 

Crypto Sentiment Inexperienced Alongside Bitcoin Rally And BitMex Pause

Right this moment’s BitMex buying and selling engine downtime comes amid a rally within the crypto market. Bitcoin (BTC) broke above $21,000 per knowledge from TradingView. Altcoin chief Ethereum recorded double-digit positive aspects because the broader crypto market skilled reduction.

Wednesday’s rally additionally preceded report quick liquidation occasions throughout main exchanges. Coinglass knowledge reported over $1.4 billion in liquidations and 87% of the positions worn out had been quick merchants. 

$700 million in liquidation occurred on FTX, setting a brand new report for the crypto alternate for the most important liquidation occasion in a single day. 

Amid seemingly optimistic sentiment out there, crypto customers on Twitter famous that BitMex pausing its buying and selling engine may maintain some significance. One consumer stated that the final time the alternate revealed this alert, Bitcoin almost doubled in worth. 

Nevertheless, pseudonymous BTC technical analyst Pentoshi surmised that at present’s pump might be one other bear market rally fueled by hopium that the feds may ease off the fuel on their rate of interest hike technique. 

Speculations broke out that the federal reserve might observe the Financial institution of Canada and discover much less aggressive financial insurance policies as world governments battle rising inflation.