Bitcoin has dropped below the $60,000 level after a brief recovery. This move suggests that market sentiment is shifting from fear to extreme fear. This shift in sentiment has significantly impacted liquidity flows in the cryptocurrency market.
Bitcoin’s drop below $60,000 comes after a recent high of $62,754. The pullback reflects extreme fear in market sentiment. Bitcoin is currently trading at $58,172, down 7.58% from its recent high.
Bitcoin’s price action suggests that a focus on short-term profit taking is a major factor among traders, with Bitcoin’s Relative Strength Index (RSI) falling towards the midpoint, suggesting increased market uncertainty and risk aversion.
The overall economic environment has also been a critical factor shaping market behavior. Concerns about global economic stability have increased, particularly following recent developments such as the unraveling of the Japanese Yen carry trade, which has fueled fears of an impending recession. These factors have deepened market pessimism and contributed to Bitcoin’s volatility.
In terms of liquidity, Bitcoin has experienced significant changes. During the last drop, around 10.84 million addresses were considered “out of the money,” indicating a high degree of exposure to liquidations. However, by mid-August, this number had decreased to around 7.14 million, suggesting a complex interplay of market forces.
The increase in leverage during Bitcoin’s short-term rally is also noteworthy. Between August 9 and 11, Bitcoin’s leverage ratio saw a significant increase, creating a favorable backdrop for a new wave of liquidations. Long positions peaked ahead of the downtrend, suggesting that liquidations of leveraged positions have significantly influenced recent price movements.
FOR THE GIFT OF 10 DOLLARS PLEASE READ CAREFULLY.
My friends, you know that we, the publishers, are doing everything we can for you here. We are conveying to you the services and conveniences that our authorities have provided us. I have never withdrawn my support for both the cryptocurrency market and you, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE BY BINACE SPECIALLY FOR ME. YOU CAN GET CONFIRMATION OF WHAT I HAVE SAID ABOUT THIS ISSUE BY CALLING LIVE HELP. IT IS A 10 DOLLAR CAMPAIGN MADE FOR YOU THROUGH ME.
Now I will explain how you will 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 can benefit?
Our friends who have not yet activated the futures section, when you activate your FUTURES transaction section, you will earn $10 when you open it by entering my 88623008 reference code.
I EXPLAIN IN DETAILED.
My brothers and sisters who have become Binance members without a reference, please listen carefully;
When you do what I say in order, you will receive 10 USDT.
Go to 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 until MAY 1 can do so. Afterwards, after activating your account, it is enough to open your first futures transaction.
The first 1,000 brothers who 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.
Even if you do this after May 1st, your reward will not come. So, do it until May 1st. In fact, I would say do it right now in 5 seconds.
It's very simple. Go to futures, enter my 88623008 referral code and activate the account. Then just open a transaction of 200 usdt in total and get the 10 usdt reward.
WHEN WILL THE REWARD COME?
Your $10 reward will come to the REWARDS section of your Binance application within 30 days from May 1. By activating it from there, you can use your $10 reward, or more than 300 lira, in futures transactions.
You can share this post with your friends in need so that they can also benefit from it.
IN THE MEANWHILE, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. EVEN IF YOU HAVEN'T FOLLOWED US YET, DON'T FORGET TO FOLLOW US. WITH MY REGARDS.
