{"id":493469,"date":"2022-06-20T23:00:28","date_gmt":"2022-06-20T23:00:28","guid":{"rendered":"https:\/\/ktsl888.com\/?p=493469"},"modified":"2024-06-11T12:54:52","modified_gmt":"2024-06-11T12:54:52","slug":"bitcoin-recovery-wades-off-celsius-liquidation-but-for-how-long","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-recovery-wades-off-celsius-liquidation-but-for-how-long\/","title":{"rendered":"Bitcoin Recovery Wades Off Celsius Liquidation, But For How Long?"},"content":{"rendered":"

The price of bitcoin has made a remarkable recovery above $20,000 after a brutal week riddled with crashes. These dips had driven decentralized finance (DeF)\/ lending protocol Celsius, to the brink of liquidation. However, as the price has recovered, the platform is once again able to hold out for longer as its liquidation point is now a bit further away. The question remains if the recovery will hold and if Celsius will be able to avoid liquidation.<\/p>\n

Liquidation Price Pushed Back<\/h2>\n

With the price of bitcoin above $20,000, the liquidation price of Celsius is now a little bit distant. This has not changed the sentiment around the lending protocol though, which has now suspended withdrawals for 7 days at this point. Its liquidation price still remains firmly at $14,000 but the company has assured the community that it continues to work to rectify the issues.<\/p>\n

Celsius had first announced the transfer and withdrawal freeze last Monday citing unstable market conditions as the reason behind the move. Even with the recent recovery, the lending protocol remains at risk of liquidation, and as such withdrawals and transfers remain frozen.<\/p>\n

Related Reading |\u00a0Bitcoin Funding Rates Remain Negative But Open Interest Tells Another Story<\/a><\/strong><\/em><\/p>\n

In its most recent communique with the public, Celsius has said that it is working with officials to find a suitable resolution to its issues. \u201cAs has been a priority since our company\u2019s inception, we maintain an open dialogue with regulators and officials,\u201d said<\/a> Celsius. \u201cWe plan to continue working with regulators and officials regarding this pause and our company\u2019s determination to find a resolution.\u201d<\/p>\n

\u00a0<\/span>However, if history is anything to go by, then it is very unlikely that investors will be able to withdraw their funds. Speculations in the space remain largely in the camp of eventual bankruptcy especially given the Three Arrows Capital (3AC) debacle.<\/p>\n

\"Bitcoin<\/p>\n

BTC recovers above $20,000 | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Will Bitcoin Keep Recovering?<\/h2>\n
The current trajectory for bitcoin points towards more recovery to come but that it is only if this turns out to be a legitimate recovery and not a bull trap. This would essentially see the price test the $21,000 resistance level before the end of the trading day.<\/p>\n
Related Reading |\u00a0Don\u2019t Expect A Bitcoin Recovery Anytime Soon, Galaxy Digital CEO<\/a><\/strong><\/em><\/p>\n
That said, the digital asset price is still trading below its 20-day moving average. While this can often point toward a buying opportunity, it can also show that investors are not willing to put money into the market at the prices they have over the last two weeks.<\/p>\n
Market sentiment is also in extreme fear, pointing to even more wariness among investors. If the sentiment were to turn along with prices, then the market could see more buying pressure, which could see the uptrend continue.<\/p>\n
Bitcoin is trading at $20,731 at the time of this writing. It remains the world\u2019s largest cryptocurrency with a market cap of $396 billion.<\/p>\n
Featured image from Vulcan Post, chart from TradingView.com<\/pre>\n
Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
The price of bitcoin has made a remarkable recovery above $20,000 after a brutal week riddled with crashes. These dips had driven decentralized finance (DeF)\/ lending protocol Celsius, to the brink of liquidation. However, as the price has recovered, the platform is once again able to hold out for longer as its liquidation point is now a bit further away. The question remains if the recovery will hold and if Celsius will be able to avoid liquidation. Liquidation Price Pushed Back With the price of bitcoin above $20,000, the liquidation price of Celsius is now a little bit distant. This has not changed the sentiment around the lending protocol though, which has now suspended withdrawals for 7 days at this point. Its liquidation price still remains firmly at $14,000 but the company has assured the community that it continues to work to rectify the issues. Celsius had first announced the transfer and withdrawal freeze last Monday citing unstable market conditions as the reason behind the move. Even with the recent recovery, the lending protocol remains at risk of liquidation, and as such withdrawals and transfers remain frozen. Related Reading |\u00a0Bitcoin Funding Rates Remain Negative But Open Interest Tells Another Story In its most recent communique with the public, Celsius has said that it is working with officials to find a suitable resolution to its issues. \u201cAs has been a priority since our company\u2019s inception, we maintain an open dialogue with regulators and officials,\u201d said Celsius. \u201cWe plan to continue working with regulators and officials regarding this pause and our company\u2019s determination to find a resolution.\u201d \u00a0However, if history is anything to go by, then it is very unlikely that investors will be able to withdraw their funds. Speculations in the space remain largely in the camp of eventual bankruptcy especially given the Three Arrows Capital (3AC) debacle. BTC recovers above $20,000 | Source: BTCUSD on TradingView.com Will Bitcoin Keep Recovering? The current trajectory for bitcoin points towards more recovery to come but that it is only if this turns out to be a legitimate recovery and not a bull trap. This would essentially see the price test the $21,000 resistance level before the end of the trading day. Related Reading |\u00a0Don\u2019t Expect A Bitcoin Recovery Anytime Soon, Galaxy Digital CEO That said, the digital asset price is still trading below its 20-day moving average. While this can often point toward a buying opportunity, it can also show that investors are not willing to put money into the market at the prices they have over the last two weeks. Market sentiment is also in extreme fear, pointing to even more wariness among investors. If the sentiment were to turn along with prices, then the market could see more buying pressure, which could see the uptrend continue. Bitcoin is trading at $20,731 at the time of this writing. It remains the world\u2019s largest cryptocurrency with a market cap of $396 billion. Featured image from Vulcan Post, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":493476,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,16924,1119,1122,83722,86197],"class_list":["post-493469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-bitcoin-recovery","tag-btc","tag-btc-price","tag-celsius","tag-celsius-liquidation"],"acf":[],"yoast_head":"\nBitcoin Recovery Wades Off Celsius Liquidation, But For How Long?<\/title>\n<meta name=\"description\" content=\"The price of bitcoin has made a remarkable recovery above $20,000 after a brutal week riddled with crashes. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/ktsl888.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Recovery Wades Off Celsius Liquidation, But For How Long?","url":"http:\/\/ktsl888.com\/news\/bitcoin-recovery-wades-off-celsius-liquidation-but-for-how-long\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-recovery-wades-off-celsius-liquidation-but-for-how-long\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/Celsius.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/Celsius.png?fit=1199%2C630"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","bitcoin recovery","btc","btc price","celsius","celsius liquidation"],"dateCreated":"2022-06-20T23:00:28Z","datePublished":"2022-06-20T23:00:28Z","dateModified":"2024-06-11T12:54:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Recovery Wades Off Celsius Liquidation, But For How Long?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-recovery-wades-off-celsius-liquidation-but-for-how-long\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-recovery-wades-off-celsius-liquidation-but-for-how-long\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/Celsius.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/06\\\/Celsius.png?fit=1199%2C630\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"bitcoin recovery\",\"btc\",\"btc price\",\"celsius\",\"celsius liquidation\"],\"dateCreated\":\"2022-06-20T23:00:28Z\",\"datePublished\":\"2022-06-20T23:00:28Z\",\"dateModified\":\"2024-06-11T12:54:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/06\/Celsius.png?fit=1199%2C630","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/493469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=493469"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/493469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/493476"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=493469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=493469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=493469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}