This week’s Bitcoin options expiry sits at $1.35 billion, but what is the expected impact on BTC price?
Record $1 Billion In Shorts Risk Liquidation If Bitcoin Hits This Price
The Bitcoin price is creeping up once again, rising to a new all-time high above $71,000 in the early hours of Monday. As the price surge continues, it has put a record number of shorts at risk, where a less than 10% move upward from here will see $1 billion in shorts liquidated.
$1 Billion In Shorts At Risk Of Liquidation
Crypto trader and analyst Ash Crypto took to X (formerly Twitter) to share a map that showed the number of short positions at risk as the price of Bitcoin rises. The map shared in the post showed that short liquidation leverage had risen above $1 billion.
These short leverage positions had been rising along with the price with a large number of crypto investors expecting the price to crash after pumping to a new all-time high. However, Bitcoin seems to have other plans in mind with its price surging close to $72,000 and increasing the risk of liquidations for these positions.
For these positions, Bitcoin reaching $75,000 would be detrimental to them. At this price level, over $1 billion worth of short positions will be liquidated. “$1,000,000,000 WORTH OF SHORTS WILL GET LIQUIDATED IF BTC HITS $75,000,” Ash Crypto revealed.
Will Bitcoin Stop Anytime Soon?
The Bitcoin price has seen a 10.33% increase in the last week and shows no signs of stopping soon. However, the debate of whether it continues upward or downward continues to wax strong as crypto analysts far and wide proffer their own predictions.
One crypto analyst know as MarcPMarkets suggests that the price of Bitcoin could hit resistance and then spiral back down if Bitcoin fails to properly clear the $70,000. But the analyst also explains that there is a possibility that the positive price action does continue if price does push above $71,500 and makes a close above it.
At the time of writing, Bitcoin is trading above $71,700, which shows it has cleared the level highlighted in the analyst. Now, what remains is to see if the cryptocurrency is able to make a daily close above $71,500, something that would be incredibly bullish for price. In this case, the BTC price could rise as high as $80,000 following this breakout.
The Bitcoin move over $71,000 has already had a significant impact on traders in the last day. Over $333 million has been lost by traders in one day. But interestingly, the majority of liquidations (64.29%) happen to be long positions, according to data from Coinglass.
Bitcoin futures open interest at 2023 high while BTC trading volume at yearly low — What gives?
BTC futures open interest is on the rise, but Bitcoin trading volume suggests that traders have shifted their attention to other markets.
Bitcoin futures open interest at 2023 high while BTC trading volume at yearly low — What gives?
BTC futures open interest is on the rise, but Bitcoin trading volume suggests that traders have shifted their attention to other markets.
Will $30K be a new springboard for Bitcoin bulls?
Bitcoin margin and futures markets display strength as institutional appetite surges after multiple spot ETF requests.
This bearish technical pattern hints at a double-digit drop in Bitcoin price
Inflation concerns and the U.S. debt standoff cast a long shadow over Bitcoin’s dwindling bullish prospects.
Total crypto market cap closes in on $1T right as Bitcoin price moves toward $20K
Crypto traders chase after neutral-to-bullish options as Bitcoin price targets $20,000 and the total crypto market cap surges above $900 billion.
Bitcoin price rallies to $19K, but analyst says a $17.3K retest could happen next
Bitcoin price hit a year-to-date high near $19,000 as pro traders used leverage to propel the pump, but derivatives data hints at reasons for BTC price to retest $17,300.
Bitcoin margin long-to-short ratio at Bitfinex reach the highest level ever
A key Bitcoin price metric hit a new all-time high, but is this a bullish or bearish development?
Large Bitcoin liquidations mean one man’s pain is another man’s pleasure — Time to buy the dip?
Pro traders were forced to cut their losses after margin and futures markets became over-leveraged, creating a potential entry point for bullish buyers.
Bitfinex Bitcoin longs hit a record-high, but does that mean BTC has bottomed?
A key derivatives metric used by margin traders has hit a record-high, but there’s plenty of risk and a catch to consider.
Ethereum price holds above $3K but network data suggests bulls may get trapped
ETH price just broke from a long-term descending channel, but on-chain data still points to a few bearish catalysts.
Bitfinex shorts crumble, bears capitulate after Bitcoin holds above $30K
$726 million in Bitfinex shorts were quickly closed after Bitcoin price bounced at $30,500, leading traders to speculate whether bears have given up.
Bad call? Bitfinex bears closed a block of Bitcoin shorts before the drop below $32K
Bitcoin short positions at Bitfinex soared as BTC price dropped below $40,000, so why did the majority of them close before the largest part of the correction?
Bears batter Bitcoin market sentiment as Bitfinex margin shorts surge 378%
The latest rally in BTC shorts is similar to what appeared ahead of the Elon Musk-led May 19 market crash.
Bets Against Ether’s Price Hit All-Time High
The number of short orders placed on ETH/USD have reached a new high and is a clear reflection of bearish sentiment surrounding the cryptocurrency.