CandleFocus Will the Surge in Bitcoin Continue? Analysis Company Reveals the Clustering Level of $1 Billion Shorts
2024-10-16
Author: Content Editor
Bitcoin's price has surpassed $68,000, resulting in liquidations of about $300 million in the last 24 hours. This surge is attributed to a decrease in selling pressure, with Bitcoin gaining over 4% to break the significant $68,000 threshold. ETC Group's Crypto Asset Sentiment Index has returned to neutral following a slight downtrend, as net outflows stabilize and selling pressure eases. The report also mentions MicroStrategy's positive performance contributing to renewed buying activity in Bitcoin. The recent volatility in Bitcoin's price has resulted in short liquidations, and if upward momentum continues, there could be additional liquidations and a potential breakout.
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