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via Cointelegraph · By Cointelegraph Staff

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

BTC

BTC/USDT

$62,788.72

+0.20%

$62,788.72

+0.20%

(24s)

24h Volume

$8,849,986,982.82

24h H/L

$63,461.99 / $62,436.59

Change: $1,025.40 (1.64%)

Long/Short

61.9%

Long: 61.9%Short: 38.1%

Funding Rate

+0.0033%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$62,662.02

▼ -0.76%

Volume (24h): -

Resistance Levels

Resistance 3$67,369.22

Resistance 2$65,849.83

Resistance 1$63,068.30

Price$62,662.02

Support 1$61,606.97

Support 2$57,800.19

Support 3$50,986.64

Pivot (PP):$62,747.54

Trend:Downtrend

RSI (14):48.1

Cointelegraph Staff

(07:28 PM UTC)

1 min read

Updated byJames Mitchell

652 views

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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…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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Source

Cointelegraph Staff · Cointelegraph

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