Bitcoin long liquidations accounted for 70% in June In 2024, the dominance of Bitcoin long liquidations across all exchanges has fluctuated significantly, reflecting the fluctuations in market sentiment. In March, the dominance of long liquidations surged to over 60%, coinciding with the sharp drop in the price of Bitcoin from around $70,000 to $60,000. This trend illustrates the impact of market adjustments on leveraged positions.
Likewise, long liquidations increased again in June, with the dominance of long liquidations touching 70% at one point when Bitcoin price was hovering around $60,000, indicating heightened market instability and risk aversion among traders.
Golden Finance Note: The ratio of long positions closed to all positions closed in a certain period of time, that is, the number of long positions closed/(the number of long positions closed + the number of short positions closed). 50% means that the number of long and short positions closed is equal, more than 50% means that the number of long positions closed is larger, and less than 50% means that the number of short positions closed is larger.
Ethereum Analysis
After the Bitcoin daily line received a negative line, the price remained stable and fluctuated at 62,200. The K-line pattern on the daily line had a certain evening star posture. The intraday support still focused on 61,800, and the high pressure focused on 65,200. The MACD long and short volume on the daily line could reverse, and the fast and slow lines had a clear golden cross opening at the bottom. In the short-term four-hour, the price ran around the middle track of Bollinger. Although the overall bulls are constantly trying to break through the upward trend, the overall price is still under pressure. In the short term, only by breaking through 62,500 and standing firm can the bulls continue. In the one-hour price, the price is running in a downward channel, and the subsequent price cannot break through the 62,500 pressure. Then look at the 61,300 bull rebound.
The overall price of Ethereum has not changed much. It is currently running at 3450. The daily support moves up to around 3420. At the same time, the high pressure needs to pay attention to the two nodes of 3530 and 3480. The price is running in a volatile market in the four-hour period. After the three lines of boll are flat, the price will maintain a volatile upward trend in the four hours, so the upper and lower supports of the daily line will move up to a certain extent. If the price can successfully break through 3430 and stand firm after bottoming out and rebounding in the one-hour period, then the price will definitely test the suppression strength of 3480. Otherwise, it is recommended to pay attention to the support below 3380. Therefore, the overall short-term follow-up attention is the 100-point range of 3380-3480.
Focus on real-time guidance and analysis! The market is ever-changing.
Support levels: 60800, 61300, 3360, 3320
Pressure levels: 63800, 64200, 3530, 3580
Floating area 60500, 63000, 3320, 3520
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For reference only. Please be careful when trading!
