Liquidation data increased with volatility in Bitcoin

▪#Bitcoindetail in liquidation data

Due to the volatile price structure of Bitcoin (BTC), more than $140 million was liquidated in the last 24 hours.

Bitcoin (BTC) lost $64,000 support as Spot Bitcoin ETF data came back negative and Grayscale withdrew its application for Ethereum futures ETF. The leading cryptocurrency is struggling to hold on to another support point at $62,000.

With the price correction in BTC, the bill for long (bullish) transactions increased. According to Coinglass data, $144 million was liquidated in the last 24 hours. The majority of these liquidations were long transactions.

Pessimism in Bitcoin was reflected in liquidation data

According to The Block, the increasingly volatile structure of Bitcoin (BTC) and the accompanying sales pressure were reflected in the liquidation data. While $144 million was liquidated in the cryptocurrency market in the last 24 hours, this amount reached $40 million in BTC.

Analysts argued that the increase in volatility should be considered normal. According to analysts, there is a progress consistent with historical data. In previous halvings, volatility was high for the next few months. According to historical data, BTC experienced declines of 5 to 15 percent before a sustained bullish scenario emerged.

While analysts stated that it was not a surprise to experience such price movements, it was noteworthy that BTC tried to hold on to $ 62,000, which is an important support point. BTC is at risk of retreating to $60,000 with a possible breakout. At this point, there is also a further increase in liquidation data.

Stay tuned for important data.