Bitcoin liquidations vanish as trader hopes $30K will hit before dip
After losing $28,000 the day prior, weekend trading offered little by way of its usual volatility as traders hoped for a break before the resumption of traditional finance markets.
“Looking like a slow chop around the CME close price so far,” Daan Crypto Trades wrote in part of Twitter commentary.
“Not expecting too much to happen with BTC during the weekend after last week’s volatility.”
Daan Crypto Trades referred to the closing price of CME Group Bitcoin futures markets, a level that could become significant if volatility up or down appears before the start of the new week.
Related: BTC price centers on $28K as Deutsche Bank shares follow Credit Suisse
This would have the effect of producing a “gap” in futures market open and close prices, creating a potential target for spot BTC.
CME Bitcoin futures 1-day candle chart. Source: TradingView
An additional post delineated areas of order book liquidity, which could also act as support and resistance flip levels.
Fellow trader Crypto Tony conversely hoped that bulls could muster the strength for an attack on $30,000 before a deeper retracement.
“One more push up on declining volume up to $30,000 please,” he tweeted alongside a projection chart.
“I do expect a solid rejection from this area. With all the stuff going on, blasting through with one test just seems very unlikely.”
BTC/USD annotated chart. Source: Crypto Tony/Twitter
Liquidations disappear
Liquidation data meanwhile showed the extent of the reduction in volatility on short timeframes, with short and long liquidations for March 25 totaling less than $5 million.
Related: Justin Sun vs. SEC, Do Kwon arrested, 180M player game taps Polygon: Asia Express
By contrast, March 22 saw Bitcoin liquidate over $120 million of positions, according to statistics from Coinglass.
Bitcoin liquidations chart. Source: Coinglass
Analyzing trader sentiment, trading suite DecenTrader eyed what is described as a “pretty simple” long/short ratio increase, with spot price trending down.
The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Arbitrum Discord hacker shares phishing announcement amid airdrop hype
The phishing message on Discord offered “the opportunity to re-claim an additional stake in Arbitrum DAO Governance” while citing issues during the initial token claim drive.
The crypto community’s warning against fake Arbitrum (ARB) airdrops materialized as hackers managed to drop a phishing link into Arbitrum’s official Discord server.
On March 25, blockchain-focused security firm CetriK revealed the possibility of a phishing link being circulated via the Arbitrum Discord server. It is suspected that a hacked Discord account of one of Arbitrum’s developers was used to share a fake announcement with a phishing link.
We are seeing reports that a phishing link has been posted in the @arbitrum Discord Server.
Do not click on any links until the team has confirmed they’ve regained control of the server.#Phishing #Discord
The phishing message on Discord offered “the opportunity to re-claim an additional stake in Arbitrum DAO Governance” while citing issues during the initial token claim drive. However, the supporting URL misspelled Arbitrum as “Arbtirum” — a deception technique used in a phishing attack.
Clicking on such a phishing link usually navigates the unsuspecting victims to a fake website prompting them to enter personal information, such as a wallet’s private key.
Phishing link shared on Arbitrum’s Discord server. Source: abtirum.io
However, further investigation from Cointelegraph shows that clicking on Arbitrum’s phishing link takes users to a blank website with the text “Astaghfirullah,” which translates to “I seek forgiveness in God.“ In modern times, it can also be used as an expression of disbelief or disapproval, according to Wiktionary.
Until further clarification from Arbitrum, investors are advised against interacting with the announcement. As hackers try to cash in on the hype, investors must be hypervigilant about unrealistic claims and deceptions.
Arbitrum has not yet responded to Cointelegraph’s request for comment.