Resistance

Propel

Divergence

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoins-climb-leads-to-heavy-short-position-losses" rel="noopener noreferrer nofollow">Bitcoin’s Climb Leads to Heavy Short Position Losses</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/sec-approves-11-spot-bitcoin-etfs-amid-market-movements" rel="noopener noreferrer nofollow">Bitcoin</a>’s ascent today pushed past the $52,000 mark, continuing its upward trend and triggering significant losses for short sellers. The volatile nature of Bitcoin’s price demands investor vigilance as a surge in value can result in the forced liquidation of short positions.</p>
<h2 id="bitcoin-short-sellers-face-liquidation-spike">Bitcoin Short Sellers Face Liquidation Spike</h2>
<p style="text-align: justify">Spot Bitcoin Exchange-Traded Funds (ETFs) are reportedly contributing to the cryptocurrency’s price momentum, experiencing a record single-day inflow of $631 million on February 13th. The rising interest in Bitcoin has been detrimental for short sellers, as Coinglass data shows that short positions worth over $73.82 million have been liquidated within the last day. Bitcoin’s market capitalization has also reclaimed its $1 trillion valuation this week.</p>
<h2 id="bitcoin-sees-minimal-price-resistance">Bitcoin Sees Minimal Price Resistance</h2>
<p style="text-align: justify">Bitcoin’s trajectory suggests it could maintain its upward trend without facing significant resistance. The cryptocurrency has breached the $52,000 threshold and support levels are identified between $45,623 and $46,738, in case of a price correction. The Moving Average Convergence Divergence (MACD) indicator forecasts a continuation of the bullish trend, hinting that Bitcoin could retest its record peak.</p>
<h2 id="etf-inflows-and-halving-event-propel-bitcoin-growth">ETF Inflows and Halving Event Propel Bitcoin Growth</h2>
<p style="text-align: justify">Bitcoin’s recent gains may be propelled by expectations of the upcoming 2024 halving event and substantial capital flows into spot Bitcoin ETFs. The ETFs’ hefty investment influx is viewed as a positive sign for Bitcoin’s valuation. Currently, Bitcoin is trading around $51,877 and although it has slightly retracted from surpassing $52,000, market sentiment remains optimistic. Prominent analyst Michael van de Poppe predicts Bitcoin’s price could climb to between $54,000 and $58,000.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoins-climb-leads-to-heavy-short-position-losses" rel="noopener noreferrer nofollow">Bitcoin’s Climb Leads to Heavy Short Position Losses</a></h5>

Bitcoin’s Climb Leads to Heavy Short Position Losses

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