Bitcoin

Avalanche

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-struggles-as-altcoins-like-avax-feel-the-heat/" data-wpel-link="internal">Bitcoin Price Struggles as Altcoins Like AVAX Feel the Heat</a> 
<a href="https://coin-turk.com/kripto-para-piyasasinda-son-durum-bitcoindeki-konsolidasyon-devam-edecek-mi" data-wpel-link="internal">Bitcoin</a> price is currently finding buyers at a disappointing $65,180 and is heading towards the daily low. In the last 24 hours, the price has fallen to $64,780, and ongoing sales are fueling concerns about further declines. This situation is particularly affecting altcoins like AVAX, which were late to start their upward trend. 
<h2 style="text-align: justify" id="avalanche-avax">Avalanche (AVAX)</h2> 
AVAX price began Sunday at $51 and could melt further if <a href="https://coin-turk.com/kripto-para-piyasasi-dususte-bitcoin-btc-yeniden-20-000-dolarin-altina-geriledi" data-wpel-link="internal">BTC</a> continues to fall. It started to face selling pressure while targeting $100, which is not surprising given <a href="https://en.coin-turk.com/bitcoins-price-could-be-on-the-verge-of-a-38-pullback/" data-wpel-link="internal">BTC</a>‘s current situation. 
In the past 24 hours, total liquidations in cryptocurrencies have reached $580 million. About $3.3 million in AVAX long positions were also liquidated. This unexpected rapid drop has disappointed AVAX investors who thought a major breakout had occurred. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-329305 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/Likidasyonlar-17-Mart.png" alt="" width="1748" height="590"> 
In futures markets for <a href="https://en.coin-turk.com/avalanche-avax-a-promising-project-in-the-crypto-market/" data-wpel-link="internal">Avalanche</a> (AVAX), the size of open positions dropped by 25%, and the OI fell to $427 million. The volume increase at the same rate indicates that investors remain cautious about potential larger losses. 
<h2 style="text-align: justify" id="avax-price-prediction">AVAX Price Prediction</h2> 
If the BTC downturn had not shaken the markets, new highs could have been targeted with closes above $58. Indeed, we have been discussing this for weeks, talking about targets of $78, $100. Moreover, this rise was almost realized, supported by the liquidation of massive short positions. 
According to Hyblock Capital data, as the price approaches the $62 region, the size of the liquidation increases. So, what happens now? The situation for BTC is not looking too bright at the moment, which naturally means a high chance of a significant correction for altcoins in the short term. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-329306 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/AVAXUSDT_2024-03-17_10-22-42.png" alt="" width="1814" height="836"> 
The AVAX price, which previously struggled to overcome the $50 resistance, is now on the verge of falling below it. Initially, the price could drop to $48 and $41. If larger sales start, the price may target the parallel channel resistance that the rise began from, at $31.5. 
Considering <a href="https://en.coin-turk.com/bitcoins-low-supply-on-central-exchanges-and-potential-price-increase/" data-wpel-link="internal">Bitcoin</a>‘s price performance, it could be beneficial for investors to account for stop orders that may be triggered with the loss of the $50-48 range. At the time of writing, BTC is finding buyers at $64,880. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-struggles-as-altcoins-like-avax-feel-the-heat/" data-wpel-link="internal">Bitcoin Price Struggles as Altcoins Like AVAX Feel the Heat</a></h5>

Bitcoin Price Struggles as Altcoins Like AVAX Feel the Heat

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