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Bitcoin Holds at $115,000, Gold sets a New Record

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Quantum computers could bring lost Bitcoin back to life: Here’s
Quantum computers could bring lost Bitcoin back to life: Here’s

The following are key points.

  • Bitcoin tries to liquidate its longs with $115,000 as a focal point at the Wall Street opening.

  • The markets are slashing shorts ahead of the Federal Reserve’s meeting on Wednesday.

  • Before correcting, gold reaches new all-time records above $3700.

BitcoinBTCWall Street, which opened Tuesday morning with potential liquidations in mind, was teetering.

BTC/USD one-minute chart. Source: Cointelegraph/TradingView

Bitcoin leverage rises as longs are at risk

Data from Cointelegraph Markets Pro The following are some examples of how to get started: TradingView BTC/USD became unsteady as US trading began.

Prices fluctuated from $114.800 to $115.300 surrounded with blocks of liquidity on the order books.

“There’s a huge cluster of long liquidations below the current price, specifically around the 114724.3 level. That’s a lot of trapped longs,” TheKingfisher spotted a trading resource in its part latest commentary Click on X. 

BTC order-book liquidation levels. Source: TheKingfisher/X

The accompanying diagram shows relevant “pain” Levels for traders to trade above and beneath the current spot price

“This chart doesn’t predict the future, but it tells you where the pain is. And where the pain is, price movements often follow,” TheKingfisher noted that there are high levels of leverage on the market.

Skew the popular trader had identified low-timeframe price volatility similar to that of yesterday, and questioned his interpretations.

“Market remains top side heavy with persistent supply & offloading into price,” In his summary, he summarized the main points of his latest market coverage.

Skew claimed that traders had been short-selling the US Federal Reserve, the main macroeconomic event for the week. interest-rate decision. Federal Open Market Committee was expecting to reduce rates by 0.25 percent for the first-time in 2025.

“Quite large positioning decay already going into FOMC, not surprising although short positioning is starting to pick up as the consensus trade going into FOMC,” He concluded.

BTC is yet to replicate gold in its price.

Risk assets showed signs of nervousness before the FOMC.

Related: Bitcoin ‘sharks’ add 65K BTC in a week in key demand rebound

US stocks opened modestly lower, but gold experienced noticeable volatility, and reached a new all-time record high of $3703.

The following are some of the ways to get in touch with us. Cointelegraph reportedA new analysis claims that Bitcoin as well as gold is a good investment. “pricing in” The future economic condition of the United States

“Gold leads the way. Bitcoin follows,” Jelle is a popular and well-known trader agreed Part of the X-reaction, referencing BTC’s tendency to track gold with a several-month delay.

According to the annual performance figures, Gold is in the lead with a 40% increase since the start the year compared to Bitcoin’s 23%.

BTC/USD vs. XAU/USD chart. Source: Jelle/X

This article contains no investment recommendations or advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.