Bitcoin Dropping To This Level Could Trigger Over $15B In Liquidations On Binance, Warns Analyst
Portfolio Pulse from Benzinga Neuro
Bitcoin's price hovering around $50,500 could trigger over $15 billion in liquidations on Binance, according to analyst Ali Martinez. Despite recent price drops and warnings of a significant correction, some remain optimistic about Bitcoin's future, with predictions of reaching $250,000 by the end of 2024. Bitcoin's current price is $61,371, showing a 38.94% increase year to date.
April 18, 2024 | 1:10 am
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Bitcoin's potential drop to $50,500 could lead to significant liquidations, impacting its price negatively in the short term.
The warning by analyst Ali Martinez about potential liquidations on Binance if Bitcoin drops to $50,500 suggests a high risk of a negative price movement. This is especially relevant given the current market concerns and the recent price drop. However, the long-term outlook remains optimistic with predictions of significant price increases.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100