BREAKING: BitMex Trading Engine Experiences Downtime, Bitcoin Below $21,000


  • Crypto trade BitMex alerted customers to an unscheduled buying and selling engine downtime on Wednesday.
  • The platform mentioned buying and selling services had been suspended attributable to technical points and guaranteed customers that every one funds and property are protected.
  • At present’s downtime comes amid a rally in crypto costs and big brief liquidation occasions throughout Bitcoin, Ether, and different digital currencies. 

On Wednesday, cryptocurrency trade Bitmex informed customers of suspended buying and selling on the platform attributable to technical points. Bitmex assured customers that “all funds are protected” whatever the unscheduled buying and selling engine downtime. 

In keeping with the replace, buying and selling halted on the platform round 14:51 UTC. 

BREAKING: BitMex Trading Engine Experiences Downtime, Bitcoin Below $21,000 11
BitMex Replace

Crypto Sentiment Inexperienced Alongside Bitcoin Rally And BitMex Pause

At present’s BitMex buying and selling engine downtime comes amid a rally within the crypto market. Bitcoin (BTC) broke above $21,000 per knowledge from TradingView. Altcoin chief Ethereum recorded double digit good points because the broader crypto market skilled reduction.

BREAKING: BitMex Trading Engine Experiences Downtime, Bitcoin Below $21,000 12
BTC/USDT Chart by Trading View

Wednesday’s rally additionally preceded file brief liquidation occasions throughout main exchanges. Coinglass knowledge reported over $1.4 billion in liquidations and 87% of the positions worn out had been brief merchants. 

$700 million in liquidation occurred on FTX, setting a brand new file for the crypto trade for the most important liquidation occasion in a single day. 

Amid seemingly optimistic sentiment available in the market, crypto customers on Twitter famous that BitMex pausing its buying and selling engine would possibly maintain some significance. One consumer mentioned that the final time the trade printed this alert, Bitcoin almost doubled in worth. 

Nonetheless, pseudonymous BTC technical analyst Pentoshi surmised that in the present day’s pump might be one other bear market rally fueled by hopium that the feds would possibly ease off the fuel on their rate of interest hike technique. 

Speculations broke out that the federal reserve might comply with the Financial institution of Canada and discover much less aggressive financial insurance policies as world governments battle rising inflation.

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