Bitcoin’s Liquidation Level Surges Above $90,000 As BTC Hits New All-Time High
The post Bitcoin’s Liquidation Level Surges Above $90,000 As BTC Hits New All-Time High appeared on BitcoinEthereumNews.com.
Many leveraged positions appear to be in jeopardy due to Bitcoin‘s recent price rally, which has formed new liquidation levels along the way. As the crypto asset continues to demonstrate potential for upward movement, investors are advised to proceed cautiously and reassess their positions to avoid substantial losses. A New Liquidation Level Emerges For Bitcoin Investors Bitcoin’s current price momentum has established new records, not just in price but also in liquidation levels. Following its leg up to a new all-time high, the crypto asset’s liquidity levels have risen to a new height of over $90,000, as reported by Alphractal, an advanced investment and data analysis platform in its recent research. This development represents a fast-growing market sentiment, putting several leveraged positions at risk due to Bitcoin’s increasing value. It also underscores the high trader interest and increased market optimism as they adjust to the risk factor presented by Bitcoin’s upside strength. While Bitcoin has created a new liquidation level above $90,000, the investment platform pointed out that the $91,500 price level is expected to put even more pressure on traders with short positions, suggesting possible eradication of the positions. BTC forms new liquidation level above $90,000 | Source: Alphractal on X Alphractal also noted that during the period, BTC’s Open Interest (OI) has been constantly improving, reaching record highs and surpassing the $46 billion mark. Specifically, this persistent rise in open interest demonstrates the growing demand for open futures positions. Drawing attention to the monthly Open Interest Delta metric, the platform highlighted that there has been a sharp increase in positions by crypto exchanges such as Chicago Mercantile Exchange (CME), Binance, the largest crypto platform, and Bitget, indicating there may be high volatility movements ahead, which could further intensify market pressure. BTC Leverage On The Rise Amid Price Momentum…
Filed under: News - @ November 14, 2024 9:21 pm