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via Cointelegraph · By Cointelegraph Staff

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

BTC

BTC/USDT

$79,622.01

-1.50%

$79,622.01

-1.50%

(24s)

24h Volume

$17,439,000,810.75

24h H/L

$81,423.03 / $78,660.00

Change: $2,763.03 (3.51%)

Long/Short

52.6%

Long: 52.6%Short: 47.4%

Funding Rate

-0.0020%

Shorts pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,697.72

▲ 0.05%

Volume (24h): -

Resistance Levels

Resistance 3$91,281.84

Resistance 2$88,315.23

Resistance 1$80,811.61

Price$79,697.72

Support 1$79,507.02

Support 2$76,172.06

Support 3$74,131.55

Pivot (PP):$79,916.17

Trend:Sideways

RSI (14):66.5

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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