The post Bitcoin Price Predictions: What Happens if BTC Breaks $73,777 or Falls Below $70,000? appeared on BitcoinEthereumNews.com.

Recent analysis from Coinglass reveals critical thresholds for Bitcoin in the current market climate. As of October 31, Bitcoin faces significant levels of resistance and support at $73,777 and $70,000, respectively. A breakout above the $73,777 mark could precipitate a massive short liquidations surge across mainstream centralized exchanges (CEX), potentially reaching a staggering $1.286 billion. Conversely, should the cryptocurrency dip below the $70,000 threshold, the anticipated strength of liquidations on the long side could swell to approximately $1.815 billion. The liquidation chart provides valuable insights, emphasizing the relative strength of liquidation clusters rather than precise contract counts. This analysis indicates how significantly the price may react as it approaches these critical levels. A higher liquidation intensity suggests that the market could experience substantial volatility, making it imperative for investors to monitor these pivotal price points closely. Source: https://en.coinotag.com/breakingnews/bitcoin-price-predictions-what-happens-if-btc-breaks-73777-or-falls-below-70000/

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Filed under: News - @ October 31, 2024 6:25 am