• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Cryptos

$637.68 million worth of leveraged longs liquidated as BTC falls below $43,000

Ajibola Akamo by Ajibola Akamo
January 6, 2022
in Cryptos
$637.68 million worth of leveraged longs liquidated as BTC falls below $43,000
Share on FacebookShare on TwitterShare on Linkedin

There is a sea of red in the cryptocurrency market as data from Coinglass reveals that a total of $637.68 million worth of leveraged longs have had their positions liquidated as flagship cryptocurrency asset, Bitcoin lost over $4,000 or 8.80% yesterday, to trade as low as $42,798.

A major catalyst for this bearish movement is as a result of the United States’ ADP National Employment Report which reveals that private sector employment increased by 807,000 jobs from November to December. This is up over 100% from the 400,000-employment forecast according to Investing.com.

Backstory

The ADP National Employment Report is a measure of the monthly change in private-sector non-farm payroll which is based on the payroll data of approximately 400,000 US business clients. The data is released two days ahead of the government’s Non-Farm Payroll (NFP) data and it is used as a predictor of the government’s Labour Market Report.

RelatedStories

Bitcoin

Bitcoin soars past $121K, smashing records with no end in sight

July 14, 2025
Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro

Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro

July 12, 2025

A reading that is stronger than forecast is generally bullish for the dollar index, which is a measure of the strength of the United States dollar while a weaker than forecast reading is generally bearish for the U.S dollar.

What you should know

As previously mentioned, the ADP data has given strength to the dollar index thereby forcing the price of Bitcoin to turn bearish as investors take a cautious stance ahead of Friday’s Non-Farm Payroll (NFP) data.

With the current ADP data, those participating in the cryptocurrency market might need to get ready for further downside as predictions for Friday’s NFP data would mean that all assets paired to the US dollar will still see further downside.

Another reason for the downside is the US Federal Reserve (Fed) reconfirming its plans to get its balance sheet under control. Yesterday, the minutes from the Fed’s December FOMC session was released and it revealed that the regulator is committed to decreasing its balance sheet and increasing interest rates in 2022.

Based on the current situation, it is widely expected that the Fed will begin raising its benchmark interest rate in March, which would mean that balance sheet reduction could start before summer.

The overall cryptocurrency market capitalization now stands at $2.21 trillion and Bitcoin’s dominance rate is 39.6%. Investors are advised to trade cautiously as cryptocurrency is a very volatile market.

Tags: BitcoinCryptocurrency
Ajibola Akamo

Ajibola Akamo

Ajibola Akamo is an Investment Analyst, Financial Analyst, Economist and Accountant. You may contact him via his email ajibolaakamo@yahoo.com

Related Posts

Bitcoin
Cryptos

Bitcoin soars past $121K, smashing records with no end in sight

July 14, 2025
Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro
Digital Media

Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro

July 12, 2025
Bitcoin
Cryptos

Bitcoin blasts past $118K, short sellers lose $1.25 billion   

July 11, 2025
Bitcoin
Cryptos

Bitcoin surges to record $112K amid institutional demand 

July 10, 2025
Bitcoin
Cryptos

Bitcoin shows buyers’ exhaustion, struggles under $108K

June 27, 2025
Memecoins led the industry in Q2 2024 and total crypto market cap fell by 14% — Report
Cryptos

FATF raises alarm over rising illicit crypto use globally, urges stronger regulation  

June 26, 2025
Next Post
FG releases official gazette proscribing bandits as terrorists

FG releases official gazette proscribing bandits as terrorists

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Petroleum Development Fund shortlists 5,746 Nigerians for foreign scholarship interviews
  • LivingTrust grows half-year profit by 32.8% on N2 billion interest income, strong operations 
  • Experts anticipate modest decline in June inflation, but food prices remain a threat 

Follow us on social media:

Recent News

Petroleum Development Fund shortlists 5,746 Nigerians for foreign scholarship interviews

Petroleum Development Fund shortlists 5,746 Nigerians for foreign scholarship interviews

July 14, 2025
LivingTrust grows half-year profit by 32.8% on N2 billion interest income, strong operations 

LivingTrust grows half-year profit by 32.8% on N2 billion interest income, strong operations 

July 14, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics