Token

Cryptocurrency

Bitcoin

when

Cryptocurrency analytics firm Alphractal reported in its latest analysis that large-scale investors, known as whales, have resumed shorting Bitcoin (BTC) as the price approaches $65,000.
According to the firm’s Whale Position Sentiment indicator, this shift marks a significant moment in market dynamics as whales continue to exert a strong influence on price action.
Whale Position Sentiment is an indicator that tracks leveraged whale positions across multiple exchanges. A decrease in the metric indicates an increase in short positions, while an increase indicates a trend toward long positions. Given the strong correlation between whale activity and market movements, these shifts are often indicative of broader trends for cryptocurrencies.
Related News: <a href="https://en.bitcoinsistemi.com/il-capo-had-said-i-have-been-accumulating-these-three-altcoins-in-the-last-weeks-he-announced-the-last-token/" target="_blank" rel="noopener noreferrer nofollow">il Capo Had Said, "I Have Been Accumulating These Three Altcoins" In The Last Weeks, He Announced The Last Token</a>
Alphractal notes that Bitcoin needs to stay above its Short-Term Conservative Realized Price of $62,200 to avoid bearish signals. A drop below this critical threshold could signal renewed bearish momentum in the market.
According to the analyst firm, recent data also points to a large-scale liquidation of short positions as BTC surpasses $65,000. Despite the increase, a significant liquidation pool still appears in the short-term at $57,000. Over the past 90 days, there have been unliquidated positions in the $67,000 and $71,000 areas, while a much larger liquidation pool is found below $40,000 when analyzed on a one-year basis.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/analytics-firm-reveals-critical-level-bitcoin-needs-to-hold-for-bullish-sentiment-to-continue/" rel="noopener noreferrer nofollow">Analytics Firm Reveals Critical Level Bitcoin Needs to Hold For Bullish Sentiment to Continue</a>

Analytics Firm Reveals Critical Level Bitcoin Needs to Hold For Bullish Sentiment to Continue

Bitcoin Sistemi EN

Other articles published on Sep 26, 2024

Onyx Protocol Faces $3.8M Hack Due to Code Vulnerability

LINK to $47 Prediction Gains Traction as Chainlink Price Nears Previous ATH at $12.32, New ATH Soon?

Bitcoin Exceeds $65,000: Analyst Assesses the Latest Situation and the “China Effect”

Profesor AS Soroti Kamala Harris yang Meniru Donald Trump Dukung Kripto dan AI

Coinpedia Fintech News

Visa’s New Platform Empowers Banks with Fiat-Backed Tokens on Ethereum

Join our free newsletter for daily crypto updates!