[BTC plunged again, what to expect next? 】🔥
Bitcoin fell below $56,000 again today after rebounding strongly the day before! $BTC
The plunge in the past 24 hours resulted in $202 million in liquidations, of which $171 million in long positions were wiped out.
Bitcoin's open interest fell 4.67% in the past 24 hours. The decline in open interest, coupled with the price drop, indicates that long positions have begun to surrender on a large scale, and we can expect another rebound.
The Cryptocurrency Fear and Greed Index continues to be in "fear", currently at 28, which is also the lowest value since the FTX crash in January 2023!
There is a saying that everyone should have heard, others are panicking and I am greedy. Now the market is full of bloody chips. It is a good time to build a spot position, and there will be good returns in the long run.
For spot trading, it is recommended to choose leading strong coins, such as $SOL