Record $1 Billion In Shorts Risk Liquidation If Bitcoin Hits This Price
2024年3月11日 - 10:00PM
NEWSBTC
The Bitcoin price is creeping up once again, rising to a new
all-time high above $71,000 in the early hours of Monday. As the
price surge continues, it has put a record number of shorts at
risk, where a less than 10% move upward from here will see $1
billion in shorts liquidated. $1 Billion In Shorts At Risk Of
Liquidation Crypto trader and analyst Ash Crypto took to X
(formerly Twitter) to share a map that showed the number of short
positions at risk as the price of Bitcoin rises. The map shared in
the post showed that short liquidation leverage had risen above $1
billion. Related Reading: Shiba Inu BONE Token Garners Over 20,000
Picks On Binance Futures NEXT Program These short leverage
positions had been rising along with the price with a large number
of crypto investors expecting the price to crash after pumping to a
new all-time high. However, Bitcoin seems to have other plans in
mind with its price surging close to $72,000 and increasing the
risk of liquidations for these positions. For these positions,
Bitcoin reaching $75,000 would be detrimental to them. At this
price level, over $1 billion worth of short positions will be
liquidated. “$1,000,000,000 WORTH OF SHORTS WILL GET LIQUIDATED IF
BTC HITS $75,000,” Ash Crypto revealed. Will Bitcoin Stop Anytime
Soon? The Bitcoin price has seen a 10.33% increase in the last week
and shows no signs of stopping soon. However, the debate of whether
it continues upward or downward continues to wax strong as crypto
analysts far and wide proffer their own predictions. One crypto
analyst know as MarcPMarkets suggests that the price of Bitcoin
could hit resistance and then spiral back down if Bitcoin fails to
properly clear the $70,000. But the analyst also explains that
there is a possibility that the positive price action does continue
if price does push above $71,500 and makes a close above it.
Related Reading: Litecoin Beats Out Dogecoin, Bitcoin To Emerge As
Top Crypto For Payments At the time of writing, Bitcoin is trading
above $71,700, which shows it has cleared the level highlighted in
the analyst. Now, what remains is to see if the cryptocurrency is
able to make a daily close above $71,500, something that would be
incredibly bullish for price. In this case, the BTC price could
rise as high as $80,000 following this breakout. The Bitcoin move
over $71,000 has already had a significant impact on traders in the
last day. Over $333 million has been lost by traders in one day.
But interestingly, the majority of liquidations (64.29%) happen to
be long positions, according to data from Coinglass. BTC price
reaches new ATH | Source: BTCUSD on Tradingview.com Featured image
from, chart from Tradingview.com Atlantic Council
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