Bitcoin

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In a volatile turn of events on the cryptocurrency market, Bitcoin (BTC) shorts have skyrocketed to an astounding $3.1 billion, prompting a warning from prominent crypto analyst Crypto Rover. The expert&nbsp;<a href="https://x.com/rovercrc/status/1729770670936948853?s=20" rel="noopener noreferrer nofollow">took to Twitter</a> to share a series of tweets forecasting a potential wave of liquidations if Bitcoin surpasses the $38,500 mark.
Crypto Rover's initial tweet sounded the alarm, stating that if Bitcoin hits $38,500, over $430,000,000 in shorts will be liquidated. This sparked concerns among traders and investors, hinting at the possibility of significant market movements.
Shortly after, Crypto Rover provided an update, indicating a continuous influx of shorts onto the market. In his second tweet, he explained that more and more Bitcoin shorts are flowing onto the market.
<blockquote>
 *UPDATE:More and more shorts are flowing into the market.Currently there $3,1 billion in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> shorts looming at $38,500-38,700. Another short squeeze is coming. <a href="https://t.co/IzCT3aud6P" rel="noopener noreferrer nofollow">https://t.co/IzCT3aud6P</a> <a href="https://t.co/1D5lgbqyQe" rel="noopener noreferrer nofollow">pic.twitter.com/1D5lgbqyQe</a>— Crypto Rover (@rovercrc) <a href="https://twitter.com/rovercrc/status/1729773710809129196?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 29, 2023</a>
</blockquote>
While highlighting that there are $3.1 billion in Bitcoin shorts looming at $38,500-$38,700, the analyst predicted that another short squeeze is coming. The term "short squeeze" refers to a situation where short sellers are forced to buy back their positions to cover losses, leading to a surge in the asset's price.
<h2 dir="ltr" id="bitcoin-approaching-critical-level">Bitcoin approaching critical level</h2>
Underscoring the urgency of the situation, Crypto Rover shared another tweet,&nbsp;<a href="https://x.com/rovercrc/status/1729786804809740309?s=20" rel="noopener noreferrer nofollow">exclaiming</a>, "Bitcoin is breaking!!!!! $39,700 is the next resistance!!" This statement suggests that the cryptocurrency is approaching a critical resistance level, and the potential for heightened market volatility is imminent.
As of the latest available data, the current price of Bitcoin&nbsp;<a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">stands</a> at $38,242, reflecting a 3.14% increase in the last 24 hours and a notable 11.64% surge over the past 30 days. The $38,500 threshold highlighted by Crypto Rover now looms large as a crucial point of interest for market participants.
If Bitcoin breaches this level, it could trigger a cascade of liquidations, potentially reshaping the cryptocurrency landscape in the short term. In the end, analysts and traders alike will be closely watching to see whether Bitcoin can overcome the $38,500 resistance or if a significant correction is on the horizon.

Bitcoin (BTC) Shorts Surge to $3.1 Billion, Analyst Predicts Massive Liquidations at $38,500

목차

U_Today

2023년 11월 29일에 게재된 다른 기사

Toniq Labs Launches Bioniq Bitcoin NFT Marketplace

Biggest Crypto Gainers Today on Uniswap – KAP, DOGE-1

Bitcoin’s Resilience Leads Market Optimism as Solana Eyes New Heights

Shiba Inu's New Leap: Shib Magazine Release, 7K NFTs, and Developer Insights

U.S. SEC Seeks Public Comments on Spot Bitcoin ETF

Dormant ETH ICO Whale Goes on Huge Selling Spree on Kraken

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!