Bitcoin’s Late Longs Liquidated: Is a Breakout Finally on the Horizon?
After dropping below $100,000 earlier this month, Bitcoin has faced sluggish price movement with little upward momentum. Over the past week, the asset has just ranged below this six-digit mark with its price now hovering above $96,000 as of today. This sideways movement reflects a lack of significant momentum and has left many traders questioning what might spark the next major move. Related Reading: Bitcoin’s Bull Cycle: Analyst Says The Upside Isn’t Over Yet Late Longs Liquidated: The Impact Despite the lack of a breakthrough, Bitcoin’s price behavior continues to attract the attention....
Related News
Weeks after hitting an all-time high above $109,000, Bitcoin’s price remains under pressure. It is currently trading below the $100,000 mark, an 11.4% decrease from its peak. The crypto asset’s recent trajectory has raised questions about its next move as it trades within a relatively tight range. According to CryptoQuant analyst Percival, Bitcoin is exhibiting a pattern that hints at upcoming significant market movements. Related Reading: Bitcoin’s Late Longs Liquidated: Is a Breakout Finally on the Horizon? Potential Support Levels and Short-Term Indicators In a post titled “Bitcoin....
Following a breakout over $700 last week, the market has since been on a tear to the upside as late longs struggle to re-enter below $1000. This is not to say that it has been smooth sailing considering we have seen a few 5 percent pullbacks since the rally began, however, these have been quickly brought up and thus have been short-lived. As Bitcoin continues to push to new highs this December, we can’t help but think about what we mentioned in our previous update. In addition to what appears to be a demand spike caused by global macro worries, the price action since the breakout above....
Bitcoin’s price has stabilized at just below $13,000 following its immense surge seen yesterday The cryptocurrency has been flashing continued signs of strength as of late, and its ability to maintain its recent gains is decisively bullish While looking back on the aftermath of yesterday’s move, its magnitude and influence over the market grows clear According to one data platform, a total of $360 million in BTC short positions were liquidated throughout the course of […]
Last week, the price of Bitcoin crashed to below $50K. This signaled that the market might finally be nearing the dreaded bear market as billions of dollars in longs were liquidated with prices plunging to $45K. The bitcoin crash, as always, brought down the whole market with it and most altcoins suffered one of their […]
Bitcoin derivatives traders who opened bullish positions as the cryptocurrency reached its record high, near $34,500, are now staring at massive losses. Data provided by ByBt.com shows that the BTC/USD market liquidated long contracts worth $1.17 billion as of 2130 EST Sunday. The stop-losses triggered as the Bitcoin price slumped back below $30,000 amid a […]