- A potential $9.26B short liquidation could trigger a Bitcoin price surge if a new ATH is reached.
- Weakening support at $67,200 and lower highs indicate increased selling pressure on Bitcoin.
- Bitcoin’s critical support at $63,800 may determine its next significant move amid heightened market uncertainty.
Bitcoin’s market stands at a critical juncture, with potential implications for both bullish and bearish traders. As highlighted by Eljaboom, a Bitcoin investor and Forbes 30 Under 30 recipient, a major liquidation event looms. If Bitcoin reaches a new all-time high (ATH), $9.26 billion in shorts could be liquidated. A few key indicators underscore this potential for a dramatic price surge.
The funding rate has decreased, indicating an increase in short positions. Additionally, the Coinbase (NASDAQ:COIN) Premium has turned positive, suggesting heightened spot demand.
LiquidationThe post Bitcoin’s Price Is About to Get Wild: $9 Billion Liquidation Event Possible appeared first on Coin Edition.$9.26 billion worth of shorts will get liquidated when BTC hits a new ATH.
The funding rate has gone down (more shorts)
Coinbase Premium has turned positive (more spot demand)
There would be no surprise if BTC pumps big from here. pic.twitter.com/Gsihg17Cry
— Elja (@Eljaboom) June 18, 2024…