CandleFocus $33.14 Billion At Risk If The Bitcoin Price Hits $72,462, Here’s Why
2024-10-19
Author: Content Editor
Crypto analyst Ash Crypto has raised concerns about $33.14 billion in short positions that could be liquidated if the price of Bitcoin reaches $72,462. This liquidation could be bullish for BTC and lead to an extended rally. The potential liquidation of these shorts could also push Bitcoin to new all-time highs. However, there is a possibility of a correction before continuing higher. The demand for Bitcoin is increasing, with Spot Bitcoin ETFs accumulating over $2.13 billion this week. Analyst Justin Bennett advises caution during this rally, noting conflicting data. Another analyst, CrediBULL Crypto, warns that the rally is driven by the perpetuals market and that open interest has surpassed levels seen before a previous drop in BTC's price.
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