Bitcoin ETF

Bitcoin

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<ul>
 <li>Today, the price of Bitcoin dropped due to investors liquidating their long positions, resulting from excessively high funding rates, suddenly turning positive sentiment into negative.</li>
 <li>A popular analyst highlighted in a December 26 post that Bitcoin has been consolidating in a parallel channel since surpassing $40,000 in November.</li>
 <li>In the last 24 hours, 70,611 investors were liquidated, and the total liquidation amount reached $170 million, with $105 million belonging to long positions.</li>
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<p><strong>Bitcoin price faced a sharp decline on Tuesday: Can BTC experience further drops? This level will be critical!</strong></p>
<h2 id="strong-can-bitcoin-price-drop-to-40-000-strong"><strong>Can Bitcoin Price Drop to $40,000?</strong></h2>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126554" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?w=1920&amp;quality=70&amp;ssl=1 1920w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=1536%2C864&amp;quality=70&amp;ssl=1 1536w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-55.webp?w=1392&amp;quality=70&amp;ssl=1 1392w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>Today, the price of Bitcoin dropped due to investors liquidating their long positions, resulting from excessively high funding rates, suddenly turning positive sentiment into negative. A popular analyst still predicts that BTC could drop to $40,700 if its price falls below the main support level.</p>
<p>A popular analyst highlighted in a December 26 post that Bitcoin has been consolidating in a parallel channel since surpassing $40,000 in November. This requires focusing on the critical support level of $42,400 to determine the price direction.</p>
<p>He anticipates that a continuous decline below $42,400 could pull the BTC price down to $40,700. On the other hand, a reaction from the support level could assist in the upward momentum towards $44,400. The crypto market saw the liquidation of $40 million in long positions in just one hour. In the last 24 hours, 70,611 investors were liquidated, and the total liquidation amount reached $170 million, with $105 million belonging to long positions.</p>
<p>Skew, a popular trader, revealed that a significant amount, “roughly sold for the price of 150-200 BTC,” was executed cleanly on Binance Spot. He suggests looking for quick scalp trades in strong altcoins if BTC and ETH can maintain their low levels.</p>
<h2 id="strong-btc-under-pressure-strong"><strong>BTC Under Pressure</strong></h2>
<p>Investors are expecting a Santa Claus rally this week, but there is also a critical event with the annual option expiration. Alongside this sentiment, the potential approval of a spot Bitcoin ETF by the SEC is on the agenda. Meanwhile, issuers of spot Bitcoin ETFs must file the changes by the specified date of December 29.</p>
<p>The price of BTC dropped from the 24-hour high of $43,765 and is currently trading at $42,740. Furthermore, trading volume increased by 38% in the last 24 hours, indicating interest among traders. This is happening as BTC’s weighted funding rate has risen significantly.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/if-bitcoin-price-stays-below-this-level-it-could-drop-to-40000/">If Bitcoin Price Stays Below This Level, It Could Drop to $40,000!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
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If Bitcoin Price Stays Below This Level, It Could Drop to $40,000!

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