๐ Bitcoin short sellers might be biting their nails as BTC inches towards $70,000. If it hits, a whopping $1.67B in short positions will be liquidated, according to CoinGlass. ๐
๐ฎ Crypto trader Ash Crypto warns of a "insane amount" of BTC short liquidations piling up. Meanwhile, CoinMarketCap predicts a mere 7.46% increase from the current price of $65,136 would catapult Bitcoin to $70,000.
๐ Joshua Jake, Discover Crypto CEO, is all smiles, stating "Markets are incredibly bullish right now. Bitcoin and ETH Liquidations are stacked. Bounce imminent."
๐ง Bitcoin's open interest (OI) has dipped by 10.99% since its peak on June 7, but it's still 82% higher compared to Jan 1. Crypto analyst Willy Woo believes a significant liquidation event could set the stage for Bitcoin to achieve new all-time highs.
๐ด "Basically, it's The Boring Zone before The Banana Zone," says Julien Bittel, head of research at Global Macro Investor.
What do you think? Is it time to buckle up for a wild ride or are we stuck in the doldrums? Sound off in the comments! ๐ฃ๏ธ #Bitcoin #CryptoNews #DeFi #Web3 #Technology