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via Cointelegraph · By Cointelegraph Staff

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

BTC

BTC/USDT

$64,480.01

+0.65%

$64,480.01

+0.65%

(24s)

24h Volume

$4,558,080,162.95

24h H/L

$64,541.66 / $63,810.00

Change: $731.66 (1.15%)

Long/Short

65.4%

Long: 65.4%Short: 34.6%

Funding Rate

+0.0008%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$64,459.32

▲ 0.13%

Volume (24h): -

Resistance Levels

Resistance 3$70,467.59

Resistance 2$66,379.48

Resistance 1$64,562.78

Price$64,459.32

Support 1$64,050.00

Support 2$62,909.86

Support 3$61,824.97

Pivot (PP):$64,220.09

Trend:Uptrend

RSI (14):51.0

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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