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<ul class="news-points"> 
 <li>On-chain data shows that BTC may witness high liquidations between the $42,000 and $46,000 price marks.</li> 
 <li>BTC’s price has fallen by almost 10% post-ETF approval.&nbsp;</li> 
 <li>There has been a decline in BTC demand since 12 January.</li> 
</ul> 
Bitcoin liquidation heatmap assessed on a 3-day chart revealed that the coin’s market is prone to high liquidations between the $42,000 and $46,000 price ranges. 
Liquidations occur when traders’ leveraged positions are forced to close because the price of BTC moves against them. 
According to data from <a href="https://www.coinglass.com/currencies/BTC" target="_blank" rel="nofollow">Coinglass</a>, the BTC market recorded a high long liquidation of $112 million on 12 January, marking its second-highest long liquidation volume since the year began. 
<figure class="wp-block-image size-full">
 <img decoding="async" width="2048" height="562" src="https://coinedition.com/wp-content/uploads/2024/01/ggg.png" alt="" class="wp-image-362721" srcset="https://coinedition.com/wp-content/uploads/2024/01/ggg.png 2048w, https://coinedition.com/wp-content/uploads/2024/01/ggg-300x82.png 300w, https://coinedition.com/wp-content/uploads/2024/01/ggg-1024x281.png 1024w, https://coinedition.com/wp-content/uploads/2024/01/ggg-380x104.png 380w, https://coinedition.com/wp-content/uploads/2024/01/ggg-768x211.png 768w, https://coinedition.com/wp-content/uploads/2024/01/ggg-1536x422.png 1536w, https://coinedition.com/wp-content/uploads/2024/01/ggg-159x44.png 159w, https://coinedition.com/wp-content/uploads/2024/01/ggg-795x218.png 795w, https://coinedition.com/wp-content/uploads/2024/01/ggg-440x121.png 440w, https://coinedition.com/wp-content/uploads/2024/01/ggg-414x114.png 414w, https://coinedition.com/wp-content/uploads/2024/01/ggg-326x89.png 326w, https://coinedition.com/wp-content/uploads/2024/01/ggg-377x103.png 377w, https://coinedition.com/wp-content/uploads/2024/01/ggg-123x34.png 123w, https://coinedition.com/wp-content/uploads/2024/01/ggg-129x35.png 129w" sizes="(max-width: 2048px) 100vw, 2048px">
 <figcaption class="wp-element-caption">
 Bitcoin Total Liquidations Chart (Source: <a href="https://www.coinglass.com/currencies/BTC" target="_blank" rel="nofollow">Coinglass</a>)
 </figcaption>
</figure> 
This coincided with the 7% price decline recorded on the same day, according to data from <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="nofollow">CoinMarketCap</a>. 
<h2 class="wp-block-heading" id="h-what-is-next-for-btc">What is Next for BTC?</h2> 
At press time, the leading crypto asset exchanged hands at $42,658. While many expected a surge above $50,000 post-ETF approval, BTC’s price has plummeted by almost 10% since then. 
Daily demand for BTC peaked on 12 January and has since dwindled. On-chain data retrieved from <a href="https://studio.glassnode.com/metrics?a=BTC&amp;m=addresses.ActiveCount&amp;s=1704703082&amp;u=1705307882&amp;zoom=7" target="_blank" rel="nofollow">Glassnode</a> sho…
The post <a href="https://coinedition.com/major-bitcoin-liquidation-levels-identified-at-42000-and-46000/">Major Bitcoin Liquidation Levels Identified at $42,000 and $46,000</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Major Bitcoin Liquidation Levels Identified at $42,000 and $46,000

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