비트코인, 7일간 4조 달러 청산 충격 딛고 강세 반등... ’디지털 골드’ 부활 신호탄

암호화폐 시장이 역사적인 청산 폭풍을 견뎌냈다. 단 7일 동안 무려 4조 달러 상당의 포지션이 증발했지만, 비트코인은 오히려 그 충격을 발판 삼아 반등에 성공했다.

시장의 회복력

레버리지 투자자들의 대규모 청산이 오히려 시장 건강성을 증명했다. 공매도 포지션의 대량 청산이 매수 세력을 재정비하는 계기가 되면서, 비트코인은 단기 조정을 마치고 새로운 상승 국면으로 전환했다.

기관들의 움직임

대형 자산운용사들과 기관 투자자들이 이번 조정장에서 오히려 적극적인 매수에 나서며 강세 신호를 보냈다. '팔려는 사람이 있을 때 사라'는 월스트리트의 오래된 격언이 디지털 자산 시장에서도 통하는 모양이다.

기술적 지표

200일 이동평균선을 성공적으로 방어한 비트코인은 기술적 분석상으로도 강세 구조를 유지하고 있다. 거래량이 증가하며 반등을 확인하는 모습은 단기적인 변동성이 아닌 실질적인 회복 국면을 시사한다.

전문가들의 전망

"이번 청산 사태가 시장에 필요했던 건강한 조정이었다"는 분석이 지배적이다. 과열되었던 레버리지를 정리하고 기초를 다지는 과정을 거치며, 비트코인은 더욱 견고한 토대 위에 서게 됐다는 평가다.

암호화폐 시장이 전통 금융권이 이해하지 못하는 속도로 성장하는 동안, 월스트리트 애널리스트들은 여전히 차트만 들여다보고 있다. 그들이 눈을 떴을 때면, 비트코인은 이미 다음 정상을 향해 달려가고 있을지도 모른다.

Introduction

Even though exchanges do provide price data for assets, a professional trader needs precisely accurate information to every millisecond. High frequency traders make multiple trades every day. Their entry and exit points need to be highly targeted lest they miss their profit or incur unwanted loss. For this purpose, two-way communication protocols are employed, and WebSocket is one of them.

What is WebSocket?

WebSocket is a protocol that allows two-way communication over a single Transmission Control Protocol (TCP) connection. Traditional methods use one-time connection that breaks once the intended information is delivered. WebSocket stays active unless either the client or server opts to close the connection.

A WebSocket stream lets you open many channels within one stream. These channels are called logical channels. For example, you may use one channel for monitoring latest price and the other to analyze trading data. These streams remain active as long as you do close them manually.

How WebSocket Works

When you want to use WebSocket, you open your browser and initiate a handshake and upgrade request. You send a request to upgrade your HTTP connection to WebSocket. As soon as the server responds, you switch to WebSocket. In the whole process, there are certain events, of which this handshake and upgrade option is the first one. The Open event commences when your request for the upgradation is accepted by the server. It shows that the two-way communication between the client and the server can start.

The next event is the message event. When a message is sent by the client, data is transmitted and WebSocket connection enters the message event.

Close event occurs when the connection is closed manually, or it terminates due to an internet connection problem. When it happens, the connection has to be re-established from scratch. You need to go through the handshake and upgrade process again. There is no “resume” option available.

In addition to the above-mentioned events, error event can also happen. This is obviously a failure in connection. Error may result due to many reasons, primarily a mistake in command or an incapable internet connection to start with.

WebSocket Stream Vs WebSocket API

Notable centralized exchanges offer two varieties of WebSocket Protocol. You can either use a stream or an API.

WebSocket Stream is the simpler of the two options. Consequently, it gives limited results too. You can retrieve live prices or trades via this channel. To set it up on your computer, you need to have Python installed. Then, by running specific codes, you can use the stream. Every WebSocket Stream has an @ symbol before the stream name. This makes the stream distinct from the API data. You must keep in mind that WebSocket Stream provides you only the market data. You must resort to WebSocket API to access the user data in addition to the market data.

On the other hand, WebSocket API is more powerful and wide-ranging as far as data retrieval and delivery are concerned. However, there are limits on how many commands you can send to the API server. Many exchanges put strict caps on the usage rate. Also, @ symbol used in WebSocket Stream name is not found in API endpoints.

Multiplexing Vs Multi-Connection

If you have delved into the world of blockchain and cryptocurrency trading to the extent of using protocols like WebSocket, you might also want to access several layers of data for several assets simultaneously. For this purpose, you can use multiplexing or multi-connection.

Multiplexing means you establish one connection and subscribe to many streams within the connection. It has already been mentioned that you can run many logical channels within one connection. Besides, exchanges allocate a generous limit to how many streams you can open. For example, Binance lets you run 1024 of them at once. Multiplexing is economical in power and resource consumption. It does not strain your CPU and memory.

Multi-Connection is different as it involves establishing different connections for different purposes. You need to carry out handshake, upgradation and on/Message event separately. This can be quite oppressive for your resources, but it has the advantage that even if one connection malfunctions, the other may work. Limit is not a problem for common users as exchanges allow up to 300 connections every five minutes for one IP address.

Why Use the Protocols?

You might wonder why you should get involved in such technical things when you can easily access data from the exchanges directly. The answer lies in the levels of accuracy and latency. Normal applications use HTTP, which need to be asked again and again if there is any change in prices. This can lead to the wastage of bandwidth as well as slowing down your trades. For example, even if you put a spot order to be fulfilled on the current market price, you might have noticed aberrations. This is because HTTP is less accurate and slower than WebSocket protocol.

WebSocket Protocol fetches dead accurate and latest prices and trading data. It provides you the price at which the last spot trade on an exchange was made. Moreover, once a connection is established, it automatically lets you know if there is any change in the area you have selected.

A real-life analogy can be used to explain the matter. You go to a restaurant and place an order. You call the waiter to confirm whether your order is ready, and he replies that there is still some delay. You call him repeatedly to get the same answer. This is what happens on HTTP connections.

When you have enough sources to approach the chef directly, you will get the live updates as to when he is cooking, getting things ready to be served, etc. This approach frees you from frustrating inquiries from the waiter. This is an example of WebSocket Protocol which lets you know exactly when there is in update.

Conclusion

Precise market data collection is the ultimate goal of a successful crypto trader. WebSocket Stream and API serve you by accessing the latest market and user data. Stream option is limited but easy to carry out. API protocol provides you with more data but has certain limits imposed by the exchanges. Multiplexing and multi-connections provide you variety that you can employ depending on your hardware and software resources.