There is a possibility for Bitcoin short liquidation if it finds a rally. CoinGlass has reported a total liquidation of over $72 million in 24 hours. This includes short and long drops days after more than $2 billion worth of bitcoins were liquidated.
Bitcoin Liquidation Possibility
There is reportedly a possibility for short Bitcoin liquidation of around $4.34 billion. This is on the grounds that BTC undergoes a 10% rally. Alternatively, there is a possibility for long liquidation of approximately $2.35 billion if BTC price drops by 10%.
The same report has underlined that an overcrowded and over-leveraged bearish position could increase the risk of an amplified upside squeeze. However, the situation could unfold if there is a major shift in the momentum.
On-Ground BTC Liquidation
A report by CoinGlass shows that $65.48 million worth of bitcoins have been liquidated over the last 24 hours from the time of writing this article. This includes short and long liquidation of $12.80 million and $52.68 million, respectively.
Short liquidation has exceeded longs during the last 12 hours. The number comes to $6.43 million against $5.36 million. This is in contrast to the 4-hour timeline, where longs are $1.62 million and shorts are $957.08k for a total of $2.58 million worth of liquidation. Numbers for the flagship token come at a time when a space between $51k and $45k could be its reset zone.
Notably, ETH liquidation in 24 hours has exceeded BTC liquidation. A total of $106.64 million in short and long liquidations are reported for Ethereum tokens – $93.31 million in long and $13.32 million in short.
BTC Price and Earlier Liquidation
BTC price is currently down by 3% over the last 24 hours, listed at $68,532.55. It is significantly down by 27.94% in a month. BTC price prediction forecasts a bull run, but it is highly recommended to do thorough research and risk assessment before crypto investment.
Market volatility last triggered a massive BTC liquidation of $2.5 billion. That was earlier this month when the possibility for a sell-off was high even for equities and precious metals. Nevertheless, the number remained below $19 billion, a stat that was noted when US President Donald Trump announced new tariffs on China.
Highlighted Crypto News Today:
Armstrong Says Coinbase Retail Keeps Buying the Dip Despite Crypto Losses
