In BitMEX, one of the largest crypto derivative exchanges, the amount of BTC has dropped drastically. As it is known, March was one of the worst periods Bitcoin has seen since 2013. According to the data of CoinMetrics; After the collapse on March 13, the number of Bitcoins held by BitMEX has experienced a ‘downhill’ drop in the last 2 weeks. The number of Bitcoin, which was 315 thousand on March 13, decreased to 244 thousand on March 29. As will be remembered, BitMEX was also charged with the big drop in Bitcoin price, but the stock market denied all claims and accusations. The decrease in the amount of Bitcoin held in this stock exchange is directly related to the decrease in price, and also shows the loss of confidence against BitMEX.
BTC price is over $ 7000 In the past 24 hours, Bitcoin price has risen above $ 7000 and has experienced a 14 percent increase. The reasons behind this rise are not clear. However, for Bitcoin, the divergence observed with stock markets is remarkable. Especially since March 30, there has been a serious separation between Bitcoin and the US markets. Bitcoin is moving upwards, while the S&P 500 and Dow indices continue to perform poorly. On the other hand, the oil price has increased more than 30 percent before falling somewhat today, but the danger for BTC is still not over. The reason for this is the expectation that financial markets and therefore Bitcoin will experience another big decrease due to the Corona virus epidemic. The expectation that the price of BTC will decrease below $ 5 thousand continues to be expressed by the experts. Bitcoin’s correlation with traditional markets triggers downward forecasts when combined with recession comments.
