$16 Billion In Possible Liquidations Suggests Where The Bitcoin Price Is Headed Next
Crypto analyst Kevin Capital has provided insights on where bitcoin prices may appear next. Analysts mention current liquidation data, indicating that there is currently $16 billion Possible liquidation From the current price of BTC to the price level of $107,000.
Clearing data shows that Bitcoin price recovery is about to be
exist X PostsKevin Capital revealed that from the current Bitcoin price to the price level of $77,000, there is only $1.5 billion in long-term liquidation. On the other hand, from the current price to $107,000 level. Analysts point out that this is one of the biggest gaps in history.
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He further noted that market makers prefer to transfer prices to the largest transactions. So, this suggests that Bitcoin prices may rebound as these market makers want liquidity in the upside. Kevin Capital It is pointed out that patience is still needed while eliminating in 3 days. However, he added that overall, it looks clearer for the Bulls.
Bitcoin prices have collapsed over the past two days, falling to $86,000, raising concerns that the bull run may have ended. However, Kevin Capital’s analysis offers some optimism that the Bulls’ run is far from over and that the flagship cryptocurrency can still recover the $100,000 price level and possibly reach new highs.
Long-term holders of BTC Similarly, Bitcoin prices will still be higher. In X post, crypto analyst Ali Martinez revealed that they have accumulated nearly 20,400 BTC after a sharp sell-off that began two days ago.
BTC can still fall to $80k low
Crypto Analyst Ali Martinez Titan of the cryptocurrency proposes that the price of Bitcoin can still be lowered to $80,000. Martinez said in an X post that Bitcoin showed similarities to the top 2021 market. He further pointed out that if this pattern holds, then integration may be possible at the current level before the next turn of the next BTC.
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The chart he accompanied shows that when the next foot occurs, the price of Bitcoin may drop to $80,850. Titans of cryptocurrency It also increased the possibility that BTC would drop to $81,000. He said BTC broke the trend line and dipped it below the next wick low. He claims that BTC’s weekly candle failure to recover from the trendline could bring flagship cryptocurrency to the next support, which is Kijun, or $81,000.
At the time of writing, the Bitcoin price was trading at about $88,700, down more than 3% in the past 24 hours. data From CoinMarketCap.
Featured images from Istock, charts from TradingView.com
