Bitcoin Cash

Litecoin

Bitcoin

when

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-market-dynamics-and-key-movements/" data-wpel-link="internal">Crypto Market Dynamics and Key Movements</a><br></p>
<p style="text-align: justify">The cryptocurrency market continues to stay neutral, led by a distinct consolidation phase of <strong><a href="https://coin-turk.com/unlu-analist-bitcoin-hakkinda-dusus-bekledigi-seviyeyi-acikladi" data-wpel-link="internal">Bitcoin</a></strong> (<a href="https://coin-turk.com/sec-durmuyor-sirada-coinbase-var-ceonun-iddiasi-sec-kacak-oynuyor" data-wpel-link="internal">BTC</a>). Meanwhile, two cryptocurrencies show potential for a short squeeze as the week progresses.</p> 
<h2 style="text-align: justify" id="current-state-of-cryptocurrencies">Current State of Cryptocurrencies</h2> 
<p style="text-align: justify">Last week’s global geopolitical tensions caused significant unease in the market, negatively impacting the overall outlook for cryptocurrencies. In this environment, which triggered a sudden drop, crypto investors began to open leveraged short positions, which are thought to possibly backfire.</p> 
<p style="text-align: justify">Interestingly, when traders take short positions, liquidity pools form in the form of collateral assets that the crypto exchange can liquidate if the price of the asset being traded rises above a known target.</p> 
<p style="text-align: justify">The liquidation of multiple short positions can push the price upwards, a phenomenon traders call a short squeeze. Notably, liquidity pools that stand out in terms of price have been observed particularly in Litecoin (LTC) and <a href="https://coin-turk.com/bitcoin-cash-bch-satin-al" data-wpel-link="internal">Bitcoin Cash</a> (BCH).</p> 
<h2 style="text-align: justify" id="will-litecoin-ltc-rise">Will Litecoin (LTC) Rise?</h2> 
<p style="text-align: justify">According to data provided by CoinGlass, Litecoin first continues to trade at $85.35, following a 5.35% increase today, marking a positive gain.</p> 
<p style="text-align: justify">On the other hand, those who short-sold have taken positions worth $188.34 million, representing 51.54% of the total volume, and continue to manage the 24-hour volume.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-342690" src="https://coin-turk.com/wp-content/uploads/2024/04/ltc-21-coin-turk-com.png" alt="" width="792" height="412"></p> 
<p style="text-align: justify">While all this is happening, it seems that there are millions of dollars in liquidity pools near the $100 psychological level for LTC. Consequently, a movement towards this potential resistance from current price levels could open up gains of over 21% for investors.</p> 
<h2 style="text-align: justify" id="will-bitcoin-cash-bch-start-to-rise">Will Bitcoin Cash (BCH) Start to Rise?</h2> 
<p style="text-align: justify">Secondly, <strong><a href="https://en.coin-turk.com/bitcoin-halving-event-and-its-market-impact/" data-wpel-link="internal">Bitcoin</a> Cash,</strong> might seize an opportunity to benefit amidst rapidly increasing gas fees for Bitcoin.</p> 
<p style="text-align: justify">However, unlike Litecoin’s single $100 region liquidation pool, BCH appears to have several liquidity pools ranging from $500 to $740. A likely short-term rise and move to resistance at these price levels could bring a significant 40% gain among Bitcoin Cash investors.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-342691" src="https://coin-turk.com/wp-content/uploads/2024/04/740-bch-site-coin-turk-com.png" alt="" width="797" height="413"></p> 
<p style="text-align: justify">However, it’s important to remember that changes can always occur in the cryptocurrency market. Investors should not forget that the mentioned liquidity pools could disappear if they close their positions themselves.</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/crypto-market-dynamics-and-key-movements/" data-wpel-link="internal">Crypto Market Dynamics and Key Movements</a></h5>

Crypto Market Dynamics and Key Movements

Table of Contents

COINTURK NEWS

Other articles published on Apr 20, 2024

Bitgert Coin’s Price Forecast Post Bitcoin Halving: Will It Rocket?

Hottest SOL GameFi Token Presale Has Now Raised More Than $370,000 – Next 100x Crypto Gem?

Ethereum: 1.6 million coins moved; it means THIS for your ETH holdings

Angola Implements Ban on Crypto Mining

Sleepy Shiba (SLESHIB) Will Rally 13,000%, Challenge SHIB and BOME With Huge MEXC Listing

5 Best Altcoins to Invest in Now April 20 – THORChain, Dogwifhat, Conflux

Join our free newsletter for daily crypto updates!