Bitcoin (BTC) trading around $55,736.37 at the time of 20:00 UTC (4 p.m. ET). Sliding 1.73percent within the previous 24 hours. Bitcoin’s range that is 24-hour $53,350.37-$56,988.34
BTC trades between its 10-hour and 50-hour averages in the chart that is hourly a sideways signal for market technicians.

Tuesday bitcoin traded in a narrowed range as Monday’s sell-off appeared to diminish and prices settled in the mid-$50,000 range for the absolute most of.

Monday’s decline led to some $1.6 billion in derivatives bets being liquidated, second only to the record level that happened on Feb. 22, according to blockchain that is Norwegian company Arcane Research.

“But on Feb. 22, the purchase price that is general in bitcoin ended up being larger than on this Monday.” Arcane published in its weekly publication Tuesday. “The extreme liquidation amounts this Monday then shows that this time around around more traders used higher degrees of leverage in their trades.”

Bitcoin found help that is strong $54,000, blockchain information shows.

Glassnode’s UTXO Realized Price Distribution (URPD), which charts bitcoins on the basis of the price of which they were last moved, suggests that 865,000 BTC had been relocated round the $54,000 to $58,000 range as of March 15, according to Arcane.