The post Approximately $1 Billion in liquidations positioned above $52,400 appeared on BitcoinEthereumNews.com.

Quick Take Recent data identified by HODL15Capital shows a shorting trend in the Bitcoin market, with leveraged positions potentially leading to approximately $1 billion of liquidations between the $52,400 and $53,000 mark. As Bitcoin stabilizes around $52,000, the Binance BTC/USDT pair, using the Coinglass Liquidation Heatmap, reveals substantial leverage above this level. Over the past week, Bitcoin maintained a price above $50,000, exhibiting some volatility. A surge of liquidations occurred between Feb. 12 and 14, correlating with Bitcoin’s ascent past the $50,000 threshold. This observation suggests that leveraged shorts are vulnerable to liquidation during market upticks. Further, CryptoSlate’s analysis last week pointed to an emerging build-up of derivatives in Bitcoin. The incremental build-up of open interest could potentially exacerbate Bitcoin’s volatility in the near future, particularly if these positions are leveraged. Thus, the combination of high leverage and derivatives build-up may significantly impact market trends and potentially stimulate additional volatility. BTC Liquidation Heatmap: (Source: HODL15Capital, Coinglass) The post Approximately $1 Billion in liquidations positioned above $52,400 appeared first on CryptoSlate. Source: https://cryptoslate.com/insights/approximately-1-billion-in-liquidations-positioned-above-52400/

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Filed under: News - @ February 20, 2024 9:10 am