Editor's PiCK
Bitcoin, 75 million dollars of short positions liquidated in one hour…approaches 93,000 dollars
Summary
- Bitcoin's leveraged short positions worth 75 million dollars were liquidated, strengthening the upward trend.
- Bitcoin's price approached 93,000 dollars and rose 5,000 dollars from the low.
- Experts said additional trading volume and spot supply/demand confirmation are needed to determine whether this rebound will be a structural trend reversal.
Bitcoin's leveraged short positions were largely liquidated, strengthening upward momentum.
On the 5th (local time), according to Kobeishi Letter, Bitcoin saw about 75 million dollars of leveraged short positions liquidated over 60 minutes, resulting in a sharp rise. In the process, the price quickly rose toward 93,000 dollars.
Earlier, Bitcoin rose about 5,000 dollars from the low recorded on Friday night. That low was formed shortly after the United States began a military attack on Venezuela.
However, experts say that additional trading volume and confirmation of spot supply and demand are needed to determine whether this rebound will lead to a structural trend reversal. Geopolitical variables and the reaction of global financial markets also remain possible factors that may influence future price movements.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
