4 reasons why Bitcoin may see $60K before $70K

Bitcoin witnessed its largest weekly return of 10% since early July, but signs indicate that the markets remain uncertain about where BTC price might go next.

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Bitcoin at perfect macro setup, but dip below $58K risks $500M in liquidations

Bitcoin could gain significant traction from the growing M2 money supply, but a correction below $58,000 is still on the table before more upside.

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German govt transfers another $900M in Bitcoin, adding to BTCs selling pressure

Repeated Bitcoin transfers to centralized exchanges suggest the German government plans to sell the remaining $1.3 billion in BTC holdings.

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Over 75% of Bitcoin short-term holders in profit as BTC breaches $67K

Bitcoin price is finally seeing some relief, but it faces significant resistance at the $68,000 mark, which would trigger over $700 million worth of short liquidations.

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Bitcoin back above $65K as traders shake off Mt. Gox BTC transfers

Traders ignored the news that Mt. Gox transferred billions of dollars in BTC and instead focused on pushing Bitcoin price above $65,000.

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Bitcoin Bears Crushed: $100M In Crypto Shorts See Flush As BTC Breaks $63,000

Data shows the cryptocurrency derivatives market has registered significant liquidations after the Bitcoin rally above the $63,000 mark. Bitcoin Rally Has Resulted In Short Liquidations On Derivatives Market According to data from CoinGlass, the latest volatility in the cryptocurrency market has led to large liquidations on the derivatives side. “Liquidation” here naturally refers to the process that any open contract undergoes where its platform forcibly closes it off after it has amassed losses of a certain degree. Related Reading: Bitcoin Recovery Stalls As HODLers Apply Selling Pressure The table below shows how the derivatives liquidations have looked during the last 24 hours: It would appear that the cryptocurrency derivatives market has registered total liquidations of $126 million in the past day. Out of these, almost $101 million of the contracts were short ones. This figure is equivalent to more than 80% of the total, implying that these investors betting on a bearish outcome for the market were the most heavily affected by the latest volatility. This naturally makes sense, as assets across the sector have seen green returns in this window, led by Bitcoin’s rally. A mass liquidation event like this latest one is popularly called a “squeeze“, and as shorts were the side that contributed to a majority of these liquidations, the squeeze would be known as a “short squeeze.” During a squeeze, liquidations end up feeding further into the price move that caused them, thus unleashing a cascade of further liquidations. As such, the sharp price surge in the past day would in part be fueled by the short squeeze. Related Reading: Bitcoin Crash Forced Weak Hands Into Largest Loss-Taking Since 2022 Lows: Report As for the breakdown of this latest squeeze for the various symbols, it would seem like Bitcoin has come out on top like usual with around $45 million in liquidations. Ethereum (ETH) and Solana (SOL) have made up the rest of the top three with $24 million and $8 million in liquidations, respectively. Interestingly, while most of the sector has seen the dominance of short liquidations, XRP (XRP) on fourth has seen longs edge out instead. This may be down to the fact that the coin has overall only moved sideways while the rest have rallied. BTC Has Managed To Reclaim The $62,000 Support Level With the latest rally, Bitcoin has been able to make some significant recovery, with its price even briefly surging above the $63,000 level earlier in the day. The chart below shows what the coin’s surge has looked like: According to data from the market intelligence platform IntoTheBlock, Bitcoin is now floating above the significant on-chain support level of $62,000. “While resistance is strong above, enough bullish momentum can prevent selling pressure,” notes the analytics firm. Featured image from Dall-E, CoinGlass.com, IntoTheBlock.com, chart from TradingView.com

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Bitcoin Price Analysis: Bitcoin Surges by 10% in a Week, Analyst Eyes $75K Target

Bitcoin is witnessing a significant surge in value, marking an uptrend turn after a period of relative stability. The price of the leading cryptocurrency has been consolidating for weeks, but recently, it started going. During the last week, Bitcoin surged by almost 10% in price, and in the last month, it gained around 9%. According […]

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Latest Bitcoin Top Is Different From 2021 Peak, Analyst Explains Why

An analyst has explained why the recent high in Bitcoin has experienced different market conditions than those observed during the 2021 bull run peak. Bitcoin Liquidations Have Been Short-Dominated In Recent Market High In a new post on X, on-chain analyst Checkmate pointed out how the latest 2024 high achieved following the spot exchange-traded fund [...]

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Bitcoin down 20%+ from all-time highs Is BTC price headed to $50K?

While the current correction remains in line with historical price corrections, Bitcoin could briefly fall to the $50,000 mark after losing the average ETF inflow mark of $59,000.

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Crypto Liquidations Near $1 Billion As Bitcoin & Altcoins Bounce Back

Data shows the cryptocurrency market has witnessed massive liquidations during the past day following the recovery Bitcoin and the altcoins have made. Bitcoin & Altcoins Have Jumped Back Following Trump’s Announcement Bitcoin and the rest of the cryptocurrency sector ended February on a very bearish note, as the market went through a deep drawdown that took BTC to as low as $78,000. In a flash, however, the digital assets have seen their fates flip during the past day. Related Reading: Solana Now Retesting Realized Price: Will Shift To Bear Market Happen? The impetus behind the recovery move has been Donald Trump’s announcement of a Crypto Strategic Reserve that includes Bitcoin, Ethereum (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA). The announcement came through the president’s official Truth Social handle. In the initial post, Trump only mentioned the altcoins XRP, SOL, and ADA, but in a follow-up post, he also confirmed BTC and ETH, saying they will be “the heart of the Reserve.” Since the US elections, the Crypto Reserve has been something much-anticipated in cryptocurrency circles, so it’s not surprising that the news has been able to have a drastic effect on trader mood. From the graph, it’s visible that Bitcoin approached the $95,000 level during the surge, but its price has since witnessed a small pullback to $92,800. Ethereum has displayed a similar pattern, although its retrace from $2,550 to $2,360 has been notably larger than BTC’s. Overall, the top two cryptocurrencies are up 8% and 6% during the last 24 hours, respectively. Interestingly, XRP, SOL, and ADA, the three coins initially announced, have shown much stronger rallies of 17%, 13%, and 48%, respectively. The bullish momentum hasn’t been restricted to just these five included in the Reserve, as coins across the space have observed some degree of rise. A consequence of all this volatility has been that liquidations have piled up on derivatives platforms. Crypto Derivatives Market Has Just Seen $971 Million In Liquidations According to data from CoinGlass, a total of $971 million in cryptocurrency derivatives contracts have found liquidation in the past day. “Liquidation” here refers to the forceful closure any open contract undergoes after it has amassed losses of a certain degree. Below is a table that breaks down the relevant numbers related to the latest mass liquidation event. As is visible above, around $558 million of these liquidations involved the short investors, representing over 57% of the total. These traders making up for the majority of the event is naturally expected, as the market has gone up inside this window. Though, despite the bullish action, around $412 million in long holders still got liquidated as a result of the pullback. Related Reading: Bitcoin Whales Buying The Dip: $1.28 Billion Added Below $90,000 In terms of the individual symbols, Bitcoin and Ethereum have predictably come out on top with $353 million and $182 million in liquidations, respectively. Featured image from Dall-E, CoinGlass.com, chart from TradingView.com

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Bitcoin (BTC) Faces $89K Test: Will the Bull Trend Hold?

Bitcoin (BTC) is starting its upmove and its liquidation range fluctuates between $89,000 to $83,000 or even lesser than $83,000. On Wednesday, Daan Crypto Trades pointed in an X post that $89K-$90K is an important level because it marks the range lows.  Daan notes that Bitcoin is still behaving similarly to equities and has attracted […]

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Bitcoin Volatility Induces $700 Million Carnage In Crypto Futures

Data shows the cryptocurrency futures market has seen liquidations amounting to $700 million in the past day as Bitcoin has gone through its volatility. Bitcoin Has Seen Intense Price Action In Past 24 Hours The past day has been a bit of a rollercoaster for Bitcoin, with the asset registering sharp price action in both [...]

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Bitcoin’s Break Above $20,000 Sees Market Liquidations Cross $1 Billion

Tuesday has proven to be a good day for bitcoin and the crypto market in its entirety as gains have been the order of the day. Bitcoin has finally been able to clear the $20,000 territory even when indicators pointed towards the more sluggish movement for the digital asset. As expected, there have been ripple events from the gains in the market. Liquidations are now the order of the day and short traders are getting the ‘short’ end of the stick. Crypto Liquidations Cross $1 Billion The crypto market has now recorded its worse liquidation trend so far in 2022. Bitcoin’s recovery above $20,000 was swift and the liquidations were just as fast. The result of this is more than $1 billion being liquidated across the crypto market in the last 24 hours. Given the recovery, short traders have suffered the worst of it. Data from Coinglass shows that over 87% of all liquidations recorded in the past day have been from short traders. This means that short traders have lost more than $700 million in a single day. Related Reading: Total LUNC Burned Crosses 24 Billion, But Is It Enough? Amid this, FTX exchange recorded the largest liquidation event in history with more than $700 million liquidated on the crypto exchange. This puts the majority of the market liquidations on FTX (74.7%) with all other exchanges making up about 25% of the remaining figure. 24-hour liquidations cross $1.1 billion | Source: Coinglass Approximately 156,000 traders were caught in the crossfire of this bloody trading day. The largest single liquidation was recorded on the Okex – ETH-USDT-SWAP pair for a total of $3.05 million. Total market liquidation values now sit at $1.12 billion at the time of this writing. Bitcoin Gearing Up For More Bitcoin has landed in the mid-$20,000s after the current rally but the digital asset does not seem to be done yet. The recovery put it firmly above its 50-day moving average, which cements its short-term bull trend. Additionally, the correlation with the stock market remains high and bitcoin is bound to follow the performance of its largest counterpart. If the current positive sentiment across the financial market continues, then it is possible that BTC would test the $21,000 resistance before the close of the trading day on Wednesday. BTC price at $20,600 | Source: BTCUSD on TradingView.com High inflation rates across the world are also triggering investors’ move to bitcoin. Forecasts have put countries around the world at even higher inflation rates going into the end of the year, which could paint a bull picture for cryptocurrencies going forward. Related Reading: Crypto Market Drops To Extreme Fear As Bitcoin Struggles To Hold $19,000 BTC is currently trading at $20,600 at the time of this writing. It is up 6.98% in the last 24 hours and has a current market cap of 396 billion. It has also seen $61.7 billion in trading volume, a 136% increase in the last day. Featured image from ITPro Today, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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More Than 253,000 Traders Liquidated As Crypto Bloodbath Continues

The crypto bloodbath has left thousands of traders in a bad way. A rapid decrease in price has seen more than 240,000 traders rekt in the span of 24 hours. As the downtrend continues, more investors are added to the long line of losers, most of which have been long traders. As it stands, there are now almost a billion dollars that have been liquidated in the market so far and this number continues to climb with bitcoin declining below $24,000. Over $940 Million In Crypto Liquidated Over the last 24 hours, the liquidations that have rocked the crypto market have been nothing short of brutal. Most of the liquidations have come from the largest digital assets in the space but Bitcoin has borne the brunt of it once more. The long traders who were hoping for further price recovery had been hit hard in the space. Although the majority of liquidations have been long liquidations, it doesn’t mean that short traders have been spared either. What has occurred has been that as the price fluctuations continue, a lot of traders have been blindsided and had their positions liquidated in a flash.  Related Reading | U.S. Macro Pressure Responsible For Entire Bitcoin Downtrend So far, there have been a little over 253,000 traders liquidated in the past day alone but these numbers are rapidly growing. Data from Coinglass shows that $596.99 million in longs have been liquidated, accounting for 63.25% of all rekt volume. While $346.86 million in shorts have been liquidated, making up the remaining 36.75% of losses. Market cap losses more than $100 billion | Source: Crypto Total Market Cap on TradingView.com Bitcoin, Ethereum, Record Massive Losses As expected, the big players have seen the most losses in the past 24 hours. What is more interesting is the volume of digital assets that have been lost by traders. For bitcoin alone, there have been more than 16.84K BTC liquidated. This comes out to $399.38 million. As for Ethereum, it tells an almost identical story with 298.96K ETH liquidated which totals $356.82 million. Related Reading | Head To Head: Bitcoin, Ethereum Profitability For Investors The smaller altcoins have not been spared from the onslaught either. Solana which has been one of the worst losers when it comes to the market downtrend has seen this translate into liquidations. With the digital asset finally dropping below $30, long liquidations have ramped up, leaving traders losing 699.32K SOL or $18.59 million in the past 24 hours. Other top losers include FLM with $11.99, GMT with $7.86 million, ADA with $7.53 million, and TRX with $5.85 million. Other notable assets also recorded losses to a significant degree with XRP, LUNA, DOGE, and AVAX seeing $5.54 million, $5.19 million, $4.84 million, and $4.72 million in liquidations respectively. Litecoin completed the top 12 with liquidations of $4.60 million. Featured image from Chemistry World, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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$127 Million In Bitcoin And Ethereum Positions Liquidated Amid Market Drop

Data shows that over the past 24 hours, more than $127 million in Bitcoin and Ethereum futures have been liquidated. The price of both cryptos has decreased by 6% and 7%, respectively, wiping out the recent gain. According to Coinglass statistics, Bitcoin futures alone lost $57.78 million, implying that most trading activity and open interest were restricted by market capitalization to the most prominent cryptocurrency. However, Ethereum futures suffered a $64 million loss.    Related Reading | Bitcoin Market Cap Shed Over $120-B Last Month – How Much More Can It Lose? Liquidations occur when an exchange closes a leveraged position for a safety mechanism. It happens because of a partial or total loss of the trader’s initial margin. That happens primarily in futures trading. That only tracks asset prices instead of spot trading, where traders own the actual assets. As per CoinMarketCap statistics, Bitcoin is currently down 5.85% on the day. It also means that the major cryptocurrency with a market value of $563.33 billion is down 57.06% from its all-time high of $68,789.63. Likewise, Ethereum, the second-largest cryptocurrency, is now down 64.02% from its all-time high of $4,891.70 reached in November 2021. Nevertheless, ETH is struggling to keep its recent positive momentum going. Feasible Reasons Behind Bitcoin & Ethereum Crash The Crypto Fear & Greed Index is a way of gauging market activity and determining if the price of cryptocurrencies are priced fairly. According to the Fear & Greed Index, the score is down (15 out of 100), implying that the market is experiencing “extreme fear.” First, there has been a decrease in Ethereum and Bitcoin trading activity. According to data from DefiLlama, the Total Value Locked (TVL) across multiple protocols in Ethereum has dropped from $88.67 billion to $68.02 billion in the last 24 hours. The flow of Bitcoin to crypto exchanges is down 37.4%, indicating lower demand for BTC among investors, as per the data from Chainalysis indicates. DeFi Protocols On Ethereum TVL, or Total Value Locked, on Aave, the largest decentralized finance protocol on Ethereum, lost 15% of its value over the past month. Other blue-chip projects like Curve Finance, MakerDAO, Lido, and Uniswap also lost double-digits of TVL over the same period.   Related Reading | Polygon (MATIC) Price Falls Short Of Reaching Full Potential Despite Recent Developments Ethereum is still the most popular blockchain for decentralized applications (defi), with 55.59% of the total defi TVL. This is due to the $101.32 billion worth of value locked in on the ETH chain. Terra is second in terms of market share, with 12.86% and $23.44 billion locked in on its blockchain. Binance Smart Chain (BSC) has 6.37% of the total defi TVL, or $11.6 billion today.    Featured image from Flickr and chart from TradingView.com

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More Than $20 Million In Long Liquidations As Bitcoin Falls To $41,000

Bitcoin had broken above $40,000 again last week, marking the digital asset’s fifth break above this point this year alone. Given that it has been trending in its $36-$38k support level before this, traders had taken to placing their trades in anticipation of the cryptocurrency’s next movements. The digital asset had barreled towards $42,000 leaving positive sentiment in its wake but resistance at this point proved devastating for long traders. Bitcoin Long Traders Suffer Losses A recent pullback in the price of bitcoin saw a significant amount of long liquidations rock the market. Bitcoin which was expected to early break through $42,000 has met more resistance than anticipated. Bears had put up one hell of a fight at this point and in the end, the bulls had succumbed to this pressure, causing the price of the digital asset to revert back down. Related Reading | Shiba Inu Exodus: 32,000 Holders Lose Interest In The ‘Dogecoin Killer’ In the wake of this had been massive liquidations. In a single hour, bitcoin saw more than $20 million in long liquidations happen in the early hours of Monday. These liquidations ramped up as the price fell back below $42,000, eventually reaching as low as $40,889. At this point, BTC had recorded one of the highest hourly long liquidations in its history. It came out to almost $21 million in longs liquidated just as the asset fell below $41,000. More than $53 million BTC liquidated in 24 hours | Source: Coinglass In the last 12 hours as at the time of this writing, bitcoin had seen more than $31 million liquidated. Covering a wider stretch sees $53.63 million in BTC liquidated over the past 24 hours. Crypto Market Suffers Liquidations As the price of bitcoin and other digital assets in the space had turned green, investor sentiment had grown more positive. It is with this positivity that long traders have been trading. Bitcoin which had made it back above its 50-day SMA had established another bullish trend, one expected to ride through above $44K. However, as is typical of the crypto market, the price of the asset had gone back down. BTC begins another recovery trend | Source: BTCUSD on TradingView.com Naturally, the rest of the market had followed the trend of bitcoin, seeing them suffer the same fate. Although other assets did not record liquidations as high as that of BTC, they were hit by the wave nonetheless. Related Reading | Bitcoin Breaks Past The $40,000 Barrier Again – Can It Sustain The Momentum? The second-largest cryptocurrency by market cap, Ethereum, has seen more than $5 million liquidated over the past 12 hours and a total of $27.37 million liquidated over the last 24 hours.  In total, the crypto market has recorded a cumulative value of $70.13 million in liquidations in the last 12 hours. And for the last day, $167.72 million have been liquidated. Bitcoin has once again resumed its recovery trend, breaking above $41k. It is currently trading at $41,205 as at the time of this writing. Featured image from Finance Magnates, charts from Coinglass and TradingView.com

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Bitcoin Leverage: Lack Of Liquidations Could Indicate Another Wave Of Selling

Bitcoin finally broke below the $40K point this past weekend. This had sent the cryptocurrency back towards six-month lows. One thing though was that liquidations or the digital asset remained lower than expected. The current liquidation volumes lay well below the volumes that have accompanied previous crashes like this one. This could be a very important indicator for the market. Bitcoin Liquidations Remain Low In Shakeout Previously, whenever the price of bitcoin had dumped this hard, liquidation volumes have quickly risen. This is due to the massive sell-offs that follow such crashes as investors try to get out of a bleeding market. This time around, bitcoin liquidation volumes have not jumped. They remain really low, indicating that maybe investors were not done selling their holdings. Related Reading | Has Bitcoin Reached Its Bottom? Analyst Says It Still Has A Long Way To Go If this is the case, then there may be more downside coming as the week runs toward the end. Massive sell-offs have already sent the digital asset to lows not seen since mid-last year. Another round of sell-offs could end up pushing the cryptocurrency’s value down below $30K. Last Friday, when the price of BTC had successfully broken below $40,000, the bitcoin futures and perpetual markets were rocked by liquidation. By the time the beginning of the weekend rolled around, over $854 million in long liquidations were already recorded. This may seem like a lot but compared to previous iterations of this type of shakeout, liquidations have fallen short. BTC liquidation volumes fall short of expectations | Source: Arcane Research May 2021 was the last time that BTC’s price had taken a similar plunge. In total, the market saw $4.8 billion worth of liquidated longs across the market. Indicating that the sell-off in May was more intense than those recorded in January of 2022. One explanation for the low liquidation volumes is that traders were able to re-allocate and add collateral to underwater trades, given that they’ve had more time to reassess their positions. Where Are The Liquidations Happening? Another reason for the low liquidation volumes could be the data available for analysis. Back in May 2021, crypto exchanges like Binance and ByBit had their bitcoin liquidation data out for anyone who wanted to have a look. Since then, there has been a change by both exchanges where they now restrict their liquidation. Now, analysts are having to guesstimate liquidation volumes using historical data from the exchanges. BTC price begins uptrend | Source: BTCUSD on TradingView.com Binance still retains dominance of the market, thus, not having access to the crypto exchange’s bitcoin liquidation data could severely affect the volumes of liquidations being reported. The crypto exchange’s dominance in the market has risen since before its data was restricted, suggesting an even larger pool of liquidations that are not being reported correctly. Related Reading | Bitcoin Whales Take Advantage Of Market Crash To Gobble Up Millions In BTC Nevertheless, the liquidations have spilled into other spaces in the industry. Decentralized finance (DeFi) did not escape the onslaught in the least as it was also rocked by liquidations. Featured image from Bitcoin News, charts from Arcane Research and TradingView.com

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How A South Korean Crypto Trader Lost Nearly $1 Million Trying To Short Bitcoin

Sotto, a Korean trader, lost nearly $1 million trading Bitcoin futures, reports on March 15 indicate. Trader On A Losing Spree Trading Bitcoin On his crypto futures trading account, Sotto first tried to short Bitcoin at around $21,000. However, because of the heightened market volatility and various fundamental factors, prices continued increasing, liquidating his entry. [...]

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Bitcoin Flash Crash Causes $710 Million In Crypto Long Liquidations

Data shows the cryptocurrency derivatives market has suffered a massive amount of liquidations after the Bitcoin flash crash during the past 24 hours. Bitcoin Has Witnessed Significant Volatility During The Last Day BTC has displayed some wild price action in the past day, with both a high of $103,500 and a low $90,500 occurring inside [...]

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Crypto Liquidations Near $690 Million As Bitcoin, Ethereum Crash

Data shows the cryptocurrency derivatives market has suffered a high amount of liquidations in the past day as Bitcoin and other assets have crashed. Bitcoin, Ethereum Saw Notable Plunges During Past Day The last 24 hours have been red for digital assets, with a bulk of the market observing a drawdown of more than 5%. Bitcoin has been no exception, as its price has slipped under the $95,000 level. It was only a couple of days back that the asset had shown a sharp recovery above the $102,000 mark. The steep crash since then would suggest the investors didn’t believe the rally would have legs, so they decided to take their profits while they could. Related Reading: Less Than 1% Of Bitcoin Investors In Loss After BTC Reclaims $100,000 Ethereum, the second largest cryptocurrency by market cap, has had it even worse than Bitcoin, with its price coming down to $3,350 after a drop of almost 8% during the past day. With its plunge, Ethereum has basically retraced all the bullish momentum that had come with this new year of 2025. Bitcoin still retains some of its gains, but if the current trajectory continues, it wouldn’t be long before it meets the same fate as well. With all the carnage that the digital asset sector has seen, it would be expected that the derivatives side of the market would likewise have gone through some chaos. Crypto Longs Have Just Taken A Massive Beating According to data from CoinGlass, a mass amount of liquidations have piled up on derivatives exchanges during the past day. “Liquidation” refers to the forceful closure that any open contract undergoes after it has amassed losses of a certain degree (the exact percentage of which may differ between platforms). Below is a table that breaks down the relevant numbers related to the latest cryptocurrency liquidations. As is visible, a total of $689 million in contracts have been flushed in the last 24 hours. Out of these, over $609 million of the positions involved were long ones. This means an overwhelming 88% of the liquidations affected the traders betting on a bullish outcome for the market. Given the crash that the cryptocurrency sector has gone through during this window, it’s not exactly a surprise to see this disparity between long and short liquidations. Related Reading: Bitcoin Signal That Took Price From $69,000 To $108,000 Appears Again In terms of the contributions to the squeeze by the individual symbols, Bitcoin has interestingly not topped the charts this time around. Instead, Ethereum has been king with almost $152 million in liquidations. The fact that Ethereum’s drawdown has been more significant than Bitcoin’s has part to play in this, but it may not be the full story. It’s possible that the trend is an indication that the speculative interest around ETH has been particularly pronounced recently. Featured image from Dall-E, CoinGlass.com, charts from TradingView.com

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