Bittime - Crypto analyst Ali Martinez warned of potential $33 million worth of liquidations on derivatives exchanges if Bitcoin (BTC) hits $70,190. Bitcoin is currently trading around $69,336.8, showing a slight increase in the last 24 hours.
Liquidation Risk
Martinez's warning highlights the large number of leveraged positions tied to Bitcoin price movements. If the price spikes to $70,190, this position could be liquidated, leading to a forced sale and potentially impacting the market.
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Market Data
Coinglass data shows ongoing liquidations across different timeframes, with both long and short positions affected.
This warning comes as Bitcoin approaches the crucial $70,000 level. Previously, Martinez had identified key support and resistance levels for this cryptocurrency.
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Bullish View
Some industry experts remain optimistic about Bitcoin's future. Last week, Anthony Scaramucci (founder of SkyBridge Capital) and crypto analyst Lark Davis both predicted a positive trajectory for Bitcoin in 2024, citing factors such as increasing demand and potential market catalysts.
Market Trends
As the cryptocurrency market recovers, Santiment (market intelligence platform) reports a surge in cryptocurrencies related to AI and Big Data. This trend has the potential to impact Bitcoin's overall performance.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Bitcoin ETF: High Flow Trend, Potential Sell Side Liquidity Crisis
Ethereum and Polygon Lead EVM User Growth and Trading Activity in Q1
Crypto Market Falls During Iran & Israel Conflict, Bitcoin ($BTC) Even Profitable?
New Opportunities in Crypto Markets: Bitcoin Bullish, Meme Coin WIF Surges
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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