#BTCUSDT Effective Update
Over the past 24 hours, about 118,000 traders were liquidated, with a total loss of $331 million, according to CoinGlass. Approximately 40% of these liquidations came from long positions, while 60% were from shorts.
Key Levels to Watch:
Resistance Zone: The short-term resistance lies between 91K–93K. If the price breaks and consolidates above this range, it could pave the way for further growth toward the 100K mark. Current Movement: Until a breakout occurs, expect the price to fluctuate in a narrow range, reflecting a balance between buyers and sellers.
Factors at Play:
Miner Selling Pressure: Miners have sent around 45,000 BTC to exchanges recently, increasing selling pressure.Retail Behavior: Retail investors are actively withdrawing BTC from exchanges, reducing supply.
Market Outlook:
The market is adjusting to new price levels, building fresh support and resistance zones. During this period, some traders will offload their positions, while others accumulate. Once the excess supply clears, the likelihood of continued growth increases.