Bitcoin stabilized at around $41,000 on Friday and is down about 9% over the past week.
Liquidations, which can accelerate downward price movements, occur when an exchange forcefully closes a trader’s leveraged position as a safety mechanism due to a partial or total loss of the trader’s initial margin.
The net flow of bitcoin and ether to and from exchanges has trended lower over the past year.
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Damanick is a crypto market analyst at CoinDesk where he writes the daily Market Wrap and provides technical analysis.
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