Bitcoin crossed $ 94,000 on April 23, triggering liquidations worth $ 635.9 million in the cryptographic markets in 24 hours.
Binance was the exchange with most of liquidations in a recent four -hour window, totaling $ 18.7 million, 78% of which were short positions. Bybit and OKX also reported high volumes of liquidated positions, pointing to a large volatility of the market.
He posted that “liquidity accumulates about $ 100,000”, suggesting that many traders have set positions near this level, and if they are triggered, they could push the higher price.
Short pressure occurs when traders who bet against an asset are forced to leave these positions, generally by buying the assets, which increases the price even more. Mister Crypto said Bearish merchants are starting to show signs of stress as Bitcoin was growing.
The data and the rise of the thermal card in short liquidations suggest a lever effect market environment, where many traders take directional bets. The current level of Bitcoin has become a psychological step, with a large amount of commercial activity and open interest concentrated around the level of $ 100,000.
As the market digests these developments, it remains uncertain if Bitcoin can maintain its dynamics upwards or if the rally is won under the highly anticipated threshold. For the moment, merchants are watching closely while positions are increasing and market pressure is increasing.
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