Bitcoin

Million

Coin

<ul>
 <li>If Bitcoin surges past $70,000, over $900 million in BTC shorts will be liquidated.</li>
 <li>If BTC dips below $66,000, over $1.15 billion in BTC longs will be liquidated.</li>
 <li>$315 million in BTC shorts will be liquidated on Binance if BTC breaks above $70,000.</li>
</ul>
Bitcoin’s recent price surge has traders on edge, with <a href="https://www.coinglass.com/pro/futures/LiquidationMap" target="_blank" rel="noopener noreferrer nofollow">data from Coinglass</a> revealing a significant amount of money at stake depending on whether the cryptocurrency breaches the $70,000 mark or falls below $66,000. Over $900 million in short positions could be liquidated if Bitcoin surpasses $70,000, while a dip below $66,000 could wipe out over $1.15 billion in long positions.
It is clear that the bulls are currently favoring a long-term bullish outlook for the <a href="https://coinedition.com/blackrock-ceo-larry-fink-declares-bitcoin-a-legitimate-financial-instrument/" rel="noopener noreferrer nofollow">digital gold</a> and are higher in number since the amount for longs is greater.&nbsp;
For Binance, the world’s largest crypto exchange, if the price of Bitcoin dips below $66,000, investors might see $381 million worth of BTC longs being liquidated. On the other hand, if BTC breaks above $70,000, more than $315 million in BTC shorts will be liquidated from the crypto space, potentially pushing prices higher.
The post <a href="https://coinedition.com/will-bitcoin-break-70k-traders-brace-for-900-million-liquidation-event/" rel="noopener noreferrer nofollow">Will Bitcoin Break $70K? Traders Brace for $900 Million Liquidation Event</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Will Bitcoin Break $70K? Traders Brace for $900 Million Liquidation Event

Coin Edition

Other articles published on Jul 22, 2024

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