It is important to note that the word “you” means “you”. Bitcoin price is creeping up once againThe price surge has pushed a record number of shorts to the brink, with a move upwards of less than 10% resulting in $1 billion worth liquidation. Price surges continue to put shorts in danger. If the price rises by less than 10%, $1 billion will be liquidated.
1 Billion Shorts at Risk of Liquidation
Ash Crypto is a cryptocurrency trader, analyst and Twitter user. share A map which showed the number and risk of short positions as the price of Bitcoin rises. The map in the post revealed that short-liquidation leverage was now above $1 billion.
The short leverage positions were rising with the price, and many crypto investors expected the price to drop after it reached a new high. Bitcoin, however, seems to be having other plans with its price. surging close to $72,000 These positions are more likely to be liquidated, increasing the risk.
Bitcoin’s price reaching $75,000.00 would be harmful to these positions. Over $1 billion in short positions would be liquidated at this price. “$1,000,000,000 WORTH OF SHORTS WILL GET LIQUIDATED IF BTC HITS $75,000,” Ash Crypto revealed
Bitcoins to Stop Soon?
Bitcoin’s price has risen by 10.33% in the past week, and it shows no sign of slowing down. Crypto analysts from all over the world continue to debate whether Bitcoin will continue upwards or downwards. own predictions.
MarcPMarkets, a crypto analyst. suggests Bitcoin may hit resistance, and then go back down again if the $70,000 barrier is not properly cleared. The analyst also says that it is possible that positive price movement will continue if the price pushes above $71,500, and closes above that level.
As of the date of this writing Bitcoin is trading above $71,700It has now cleared the analyst’s level. It is now up to the cryptocurrency to close its daily trading above $71,500. This would be very bullish. In this case the BTC price Could rise to as much as $80,000 after this breakout.
Bitcoin’s move above $71,000 had an impact on traders the previous day. Over $333m has been lost in a single day by traders. Most of the liquidations (64.29%) were long positions. data Coinglass
Source:| Source: BTCUSD on Tradingview.com
Chart by Tradingview.com Atlantic Council.
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