Bitcoin (BTC) price has not yet recovered from the loss of momentum experienced in the last few days. The cryptocurrency market seems to be in danger of further decline, but interestingly, the bullish sentiment of investors may be behind this decline.
Bitcoin experienced an unexpected decline. Its price dropped from $62,000 to $53,300, shocking the cryptocurrency market and dashing the bullish expectations of many investors. A total of $263 million in long positions were liquidated in the futures market in the last three days. This was recorded as the second highest liquidation in the last two weeks, while the previous high was observed three months ago in April. Normally, such high liquidations can help calm investors and cool the market, but Bitcoin holders seem to think differently this time. The decline is attributed to the pessimistic speech made by Federal Reserve Chairman Jerome Powell earlier this week.
Investors are expecting a rapid recovery and are poised to profit from it. Analyst Willy Woo drew attention to this point when explaining the differences that could create a bear market in the futures market. According to the Bitcoin Open Value Oscillator, there are still approximately half a million open long positions. He noted that if the price of Bitcoin falls further, these long positions could be liquidated, leading to a prolonged bear period for BTC.
What to expect at the price now? Bitcoin, trading at $56,961 at the time of writing, is stabilizing after dropping to almost $53,300 yesterday. The cryptocurrency has yet to realize the expected 17% decline resulting from the double top formation that formed four months ago. This forecast targets a drop to $50,900, which would lead to massive long position liquidations as mentioned above. If Bitcoin loses the $55,000 support, this possibility will become even stronger.
On the other hand, if Bitcoin price can make an upward bounce from $55,000 and turn $58,800 back into the support level, the recovery could begin. This could allow it to rise to $60,000 to invalidate the bear thesis. As a result, the Bitcoin market is at a critical stage. Investors' expectation of a rapid recovery could destabilize the market and trigger the expected decline. It is necessary to closely monitor whether Bitcoin can maintain the $55,000 support in the coming days and whether the price movements will confirm the above-mentioned predictions.
PLEASE READ CAREFULLY FOR A GIFT OF 10 DOLLARS.
My friends, you know that we, the publishers, are doing everything we can for you here. We are informing you about the services and facilities offered to us by our authorities. I have never stopped supporting both the Cryptocurrency market and you as much as I could, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE SPECIALLY FOR ME BY BINACE. YOU CAN GET CONFIRMATION ABOUT THIS BY CONTACTING LIVE HELP. THIS IS A 10 DOLLAR CAMPAIGN MADE TO YOU THROUGH ME.
Now I will tell you how to receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who will benefit?
Our friends who have not activated the futures section yet, while activating your FUTURES trading section, you will earn 10 dollars when you open it by entering my reference code 88623008.
I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward by MAY 1 can do so. After activating your account, all you have to do is open your first futures transaction.
The first 1,000 brothers to open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
So let me give you a tactic like this: Even if you open and close 20x with a $5 transaction, you will be entitled to the reward.
However, even if you do this after May 1, your reward will not come. So get it done by May 1st. In fact, right now I say you can fix it in 5 seconds.
Very simple. Go to Futures, enter my reference code 88623008 and activate the account. Afterwards, just open a total of 200 USDT transactions and get 10 USDT reward.
WHEN WILL THE AWARD COME?
Your 10 dollar reward will arrive in the REWARDS section of your Binance application within 30 days, starting from May 1st. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.
You can help your friends in need by sharing this post.
BY THE WAY, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. IF YOU HAVE NOT FOLLOWED YET, DON'T FORGET TO FOLLOW. KIND REGARDS.