The chart above reveals that brief positions have exceeded lengthy positions, with the cumulative brief liquidation leverage now standing at $2.27 billion, in comparison with the cumulative lengthy liquidation leverage of $18.89 million.
This imbalance suggests a powerful bearish stress, aligning with Bitcoin’s current worth decline from $58,819 to $57,209.
These developments underscore the bearish sentiment pushed by the U.S. authorities’s transaction. The sharp improve briefly positions might result in additional downward stress on Bitcoin’s worth within the coming days.
BTC Price Forecast: All Eyes on $55k Assist
As Bitcoin navigates these turbulent waters, technical evaluation suggests that each one eyes are actually on the $55,000 help stage. The Donchian Channels, a momentum indicator, present Bitcoin buying and selling between $70,015.86 (resistance) and $49,111.87 (help).
BTC dipping beneath the midline of the channels at $59,500 signifies a bearish pattern, with potential additional draw back towards the $55,000 stage.
