Bitcoin Faces Risk Of Over $1B In Liquidations If Price Hits This Level, Analyst Warns
Portfolio Pulse from Aniket Verma
Bitcoin faces potential liquidation of over $1 billion in bearish bets if its price rebounds to $62,600, according to analyst Ali Martinez. The high short liquidation leverage indicates a bearish sentiment among traders, who are at risk of significant losses if the market moves against them. Bitcoin's recent decline is attributed to investor anxiety over Mt.Gox's liquidation of $9 billion worth of the currency. However, analysts like Tom Lee predict a sharp rebound, with Bitcoin potentially hitting $150,000 in the second half of 2024.
July 03, 2024 | 8:41 am
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Bitcoin faces potential liquidation of over $1 billion in bearish bets if its price rebounds to $62,600, according to analyst Ali Martinez. The high short liquidation leverage indicates a bearish sentiment among traders, who are at risk of significant losses if the market moves against them.
The potential for over $1 billion in liquidations if Bitcoin's price rebounds to $62,600 suggests a significant impact on the market. The high short liquidation leverage indicates that many traders are bearish, and a price rebound could lead to substantial losses for these traders, potentially driving the price higher in the short term.
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