Bitcoin’s strong start to the week has sparked mass liquidations across the crypto market.
At the time of writing, Bitcoin is trading at $53,584, while Ethereum is trading at $3,152, its lowest price since November 2021.
According to cryptocurrency data aggregator Coinglass, $182.33 million in liquidations have rocked traders on Binance, Bybit, OKX, Huobi, and more, with the majority coming from people who tried to short BTC in recent hours. It is said to belong to
As BTC price breaks through the short wall, analysts are speculating what the next major resistance level will be.
Glassnode founders Jan Happel and Jan Alleman, who share the handle Negentropic on social media platform He said that he is proceeding with the
“BTC currently appears to be finally breaking out of the range it has been in since February 15th.
The momentum is strong. All sails are set.
The next level is 57-58, before ATH. ”
Analysts say it could hit new all-time highs come sooner than most people expect.
Pseudonymous analyst Altcoin Sherpa shares a chart with X's 208,000 followers that suggests BTC has successfully broken out of the $50,600 to $52,300 range. .
“BTC: I don’t know why we’re excited, but I agree with it. BTC is still expected to outperform most altcoins in the short term.”
In a new interview with SkyBridge Capital founder Anthony Scaramucci on the Wealthion YouTube channel, venture capitalist Dan Tapiero says he doesn't expect a major correction in Bitcoin, and that BTC will probably reach the $20,000 level again. I said no.
“So, do you think Bitcoin will go back to the lows of $20,000 or $18,000? I have no idea.
I think we're in the second phase of this bull market, so I'm more concerned and I think that's where it's at. [could be] If you feel like you're in the 7th or 8th inning, you could potentially be in trouble.The bullish consensus is 75%-80% – that’s a problem, but probably [it] It means there is a short-term fix.
We're just getting started here. ”
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