Bitcoin (BTC) experienced a decline that led to the liquidation of a long position worth $294,000 at a level of $94,600.00.
📉 What happened?
Price drop: BTC failed to maintain bullish momentum, resulting in the liquidation of large long positions.
Sharp deviation: Bulls came under pressure, and the correction forced traders with longs to close their positions at a loss.
📊 Market impact:
Weakening of bullish sentiment: Liquidation of large longs may impact the market, weakening short-term buying pressure.
Increased volatility: Price declines and liquidations may lead to additional volatility in the short term.
🔮 What to expect next?
BTC will now look for support at levels around $94,000. If the price holds, a continuation of the rise may occur, but a correction at this moment is not ruled out. Traders should be prepared for market volatility. ⚡
