Both bitcoin and litecoin have rallied strongly during the past few days. While the BTC gains were mainly the result of a large margin call, LTC followed suit, despite no margin calls of its own. But let’s start with big brother first.
Bitcoin Spikes on Margin Call, Follow-through Lacks
Bitcoin spiked $8 dollars in 8 minutes on April 21st. The surge happened right at the open of the last hour of the trading session. As prices rallied, a large $3 million dollars margin call was issued on OKCoin futures. As you might imagine, the call triggered more gains with prices rallying $5 dollars in the two minutes it took to execute the order. The OKCoin futures rally had a ripple effect across all other sites, including FxOpen. Here we rallied from $222.74 to a high of $230.35 in eight minutes. The Tuesday gains were followed by a smaller sized move yesterday with BTC/USD peaking at $236.56 before falling back.
Read More https://blog.fxopen.com/bitcoin-litecoin-rally-but-follow-through-lacks/