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via Cointelegraph · By Cointelegraph Staff

Bitcoin Bears Boost Shorts, Will Bulls Liquidate Them And Reverse BTC Price?

BTC

BTC/USDT

$84,078.30

+0.08%

$84,078.30

+0.08%

(24s)

24h Volume

$15,429,391,700.81

24h H/L

$85,255.00 / $83,183.00

Change: $2,072.00 (2.49%)

Long/Short

58.4%

Long: 58.4%Short: 41.6%

Funding Rate

+0.0009%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$84,007.02

▼ -0.11%

Volume (24h): -

Resistance Levels

Resistance 3$87,335.96

Resistance 2$85,667.07

Resistance 1$84,048.83

Price$84,007.02

Support 1$83,103.66

Support 2$80,169.72

Support 3$77,064.96

Pivot (PP):$84,179.33

Trend:Uptrend

RSI (14):63.9

Cointelegraph Staff

(07:28 PM UTC)

1 min read

Updated byJames Mitchell

0 comments

Key takeaways:

Over-leveraged Bitcoin short positions between $63,000 and $66,000 have created a potential $2.6 billion squeeze trap for bears.
Negative perpetual funding rates indicate that bulls have fully deleveraged, significantly reducing downside risk.

The Bitcoin (BTC) crash to $61,100 on Friday wiped out $335 million in leveraged long positions. However, after a 21% decline in Bitcoin's…

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Source

Cointelegraph Staff · Cointelegraph

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