Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-investors-face-losses-amid-market-turbulence/" data-wpel-link="internal">Bitcoin Investors Face Losses Amid Market Turbulence</a><br></p>
<p style="text-align: justify">Late on Sunday, the price of <strong>Bitcoin</strong> (BTC) experienced a drop of over 2.5%, leading to more than $200 million in liquidations in the last 24 hours. This week, the final decision regarding the much-anticipated spot Bitcoin Exchange-Traded Fund (ETF) is expected. While awaiting the outcome, Bitcoin’s price is consolidating within a narrow range, attempting to find a direction.</p> 
<h2 style="text-align: justify" id="bitcoin-investors-at-a-loss">Bitcoin Investors at a Loss</h2> 
<p style="text-align: justify">As seen in the screenshot below, transactions worth $212.39 million were liquidated in the last 24 hours. The majority of the liquidations occurred in long positions, with long positions worth $172 million and short positions over $40 million being liquidated.</p> 
<p style="text-align: justify">The cause of the liquidations was attributed to Bitcoin’s rapid decline of over 2.5% on Sunday.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-299540" src="https://coin-turk.com/wp-content/uploads/2024/01/Bitcoin-liq.jpg" alt="" width="747" height="273"></p> 
<h2 style="text-align: justify" id="f2pool-s-2-000-btc-move">F2Pool’s 2,000 BTC Move</h2> 
<p style="text-align: justify">While the price of BTC was falling, the famous team highlighted an important point. On-chain analytics platform Lookonchain shared on Twitter that a mining pool, F2Pool, had transferred Bitcoins to <a href="https://en.coin-turk.com/binance-announces-41st-launchpool-project-nfprompt/" data-wpel-link="internal">Binance</a>. Lookonchain explained the situation as follows:</p> 
<blockquote> 
 <p>In the last 7 hours, why did the price of $BTC drop by 1000 dollars (-2.3%)? During this time, we noticed that #F2Pool deposited 1,000 $BTC (43.96M dollars) to #Binance. And #F2Pool also deposited 1,000 $BTC (43.76M dollars) to #Binance two days ago.</p> 
</blockquote> 
<p style="text-align: justify">The transfer of Bitcoins to exchanges is not only being carried out by F2Pool. Many miners appear to be offloading their Bitcoins as there was a noticeable rise in the leading cryptocurrency. The screenshot below shows that the sales by miners have climbed to the highest level in the last two months since December 2022.</p> 
<p style="text-align: justify">In December 2022, mining companies were struggling due to a broader market crypto crash. In fact, some smaller mining firms even filed for bankruptcy.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-299530" src="https://coin-turk.com/wp-content/uploads/2024/01/bitcoin-43222-madencilik.jpg" alt="" width="746" height="427"></p> 
<h2 style="text-align: justify" id="current-bitcoin-situation">Current Bitcoin Situation</h2> 
<p style="text-align: justify">Despite the sharp correction on Sunday, Bitcoin recovered after testing the $43,222 level and rose back to the $44,000 level. It is known that the price of Bitcoin has been tightly consolidating between $44,300 and $43,200 since Thursday, with the uncertainty of the upcoming ETF <a href="https://newslinker.co/" data-wpel-link="exclude">news</a> being cited as the cause.</p> 
<p style="text-align: justify">According to on-chain data, Bitcoin has a strong support zone between $42,560 and $43,245. Ali Martinez made a statement on Twitter:</p> 
<blockquote> 
 <p>About 1.11 million $BTC were purchased between $42,560 and $43,245 and have not yet been sold, making this one of the strongest support walls! If #Bitcoin can hold above this level, there is no significant resistance to prevent further progress. However, if the $42,560-$43,245 levels cannot be sustained, expect a drop towards the next critical area of interest between $26,770 and $30,220.</p> 
</blockquote> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-299531 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/ali-martinez-alt-coin-turk-com.jpg" alt="" width="786" height="403"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-investors-face-losses-amid-market-turbulence/" data-wpel-link="internal">Bitcoin Investors Face Losses Amid Market Turbulence</a></h5>

Bitcoin Investors Face Losses Amid Market Turbulence

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