Bitcoin (BTC) $42,800 Crucial Level Could Wipe Out Over $400 Million in Longs
In a recent tweet that sent shockwaves through the crypto community, the renowned analyst Crypto Rover issued a warning about the precarious state of the Bitcoin (BTC) market. According to the , if the leading cryptocurrency were to hit the $42,800 mark, over $400 million worth of long positions could face liquidation.
As of the latest available , Bitcoin is currently priced at $43,801, reflecting a modest increase of 0.03% in the last 24 hours and an impressive 11.05% surge over the past week. The market has been buzzing with activity, and investors have been closely monitoring the price movements, particularly as Bitcoin consolidates just over the critical $42,800 level.
Data from CoinGlass, a prominent cryptocurrency data provider, that over the last 24 hours, approximately $13.21 million in long positions have already been liquidated. This development adds a layer of complexity to the overall market sentiment, raising concerns about the potential consequences of a further drop in Bitcoin's price.
