Get Ready For A Bitcoin Short Squeeze? Long Traders Pile Up As BTC Struggles
Bitcoin has been hinting at lower levels during today’s trading session. The benchmark crypto was rejected at around $48,000 and has been unable to reclaim its previous highs. Related Reading | Galaxy Digital’s Jason Urban What Will Drive Ethereum To Flip Bitcoin At the time of writing, Bitcoin trades at $43,100 with a 1% and 5% loss in the last 24 hours and 7 days, respectively. Data from Material Indicators records little support for BTC’s price as it moves in a tight range between $42,500 and $43,500. The benchmark crypto has been losing bid orders that could absorb future downside....
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After beating Wall Street with its short squeeze of GameStop stock, the members of r/wallstreetbets should level up with Bitcoin. The post After GameStop Short Squeeze, r/Wallstreetbets Is Ready For Bitcoin appeared first on Bitcoin Magazine.
The price of Bitcoin surpassed its all-time high and surged above $24,600 as traders analyze what will come next. The price of Bitcoin surpassed its all-time high on Christmas, reaching $24,681 on Binance. Following BTC’s strong rally, traders and analysts are exploring short-term bear and bull cases. The market sentiment around Bitcoin remains overwhelmingly positive, but there are some concerns put forth by analysts in the foreseeable future and as a result, the next move is not a clear-cut one.The funding rate of Bitcoin futuresBitcoin (BTC) has rallied above $24,600 with a relatively....
Daily closes above $30,000 could be a sign that BTC price is ready to consolidate, but traders warn against “generational bottoms” and “V-shaped” recoveries. Altcoins saw a relief bounce on May 13 as the initial panic sparked by Bitcoin's sell-off Terra's UST collapse and multiple stablecoins losing their dollar peg begins to decrease and risk loving traders look to scoop up assets trading at yearly lows.Daily cryptocurrency market performance. Source: Coin360Despite the significant correction that occurred over the past week, Bitcoin (BTC) bulls have managed to claw their way back to the....
Dogecoin (DOGE) could be on the cusp of a significant price move that might ignite a powerful short squeeze, according to analyst Ali Martinez (@ali_charts). He pointed out on January 27, via X, that “$766.45 million in short positions will be liquidated if Dogecoin DOGE rebounds to $0.35,” implying that bearish traders stand on precariously thin ice. Massive Dogecoin Short Squeeze Incoming? A look at the up-to-date liquidation heatmap from Coinglass shows hefty short positions clustered between roughly $0.339755 and $0.34368. Coinglass data shows $464.8 million at $0.339755, $534.79....
Ethereum traders are betting on a "sell-the-news" event on the day of the Merge as ETH exchange balance jumps. Ethereum successfully completed its long-awaited transition to proof-of-stake via "the Merge" on Sep. 15, while traders have been increasingly shorting Ether (ETH) in anticipation of a sell-the-news event. Ethereum funding rate plummeEther's futures funding rates across leading derivatives platforms dropped below zero—to their worst levels to date—before the Merge. The rate dropped to as low as -0.6% on BitMex. ETH funding rates history. Source: CoinglassFunding rates are a....