$ETH $good day to trade btc 🤑🏆
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Prashant Jha
PRASHANT JHA
5 HOURS AGO
Bitcoin shorts worth $1.4B at risk of liquidation if BTC price hits $74.3K
The recent bullish price momentum is attributed to several factors, including increasing investor confidence, decreasing exchange supply and inflows into spot BTC ETFs.
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Bitcoin shorts worth $1.4B at risk of liquidation if BTC price hits $74.3KNEWS
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The Bitcoin price is currently just 3% away from its all-time high (ATH) of $73,750. However, if it continues its current bullish momentum and posts a new ATH above $74,300, it would trigger the liquidation of nearly $1.45 billion in short positions.
Source: CoinGlass
According to data from CoinGlass, the number of long-leveraged positions is considerably higher than that of short-leveraged positions.
Shorting Bitcoin
tickers down
$70,017
involves borrowing BTC and selling it, expecting the price to decline. The trader aims to buy back the Bitcoin at a lower price, repay the loan and profit from the price difference.
In addition to the potential future price movements and their effect on short sellers, the price momentum over the past 24 hours has caused the liquidation of nearly $328 million in leveraged positions. Of this total, $64 million were long positions, while $264 million were short positions.
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Bitcoin has followed a sideways price action, trading in the $60,000 to $65,000 range for nearly a month since the block subsidy halving in April.
