Bitcoin nears $72,000… “If it breaks above $73,000, $430 million in short positions could be liquidated”
JOON HYOUNG LEE
Summary
- It reported that if Bitcoin’s price breaks above $73,000, short positions worth $430 million are likely to be liquidated.
- It said that if Bitcoin falls below $70,000, long positions worth $459 million on centralized exchanges are expected to be liquidated.
- It said Bitcoin is currently trading at $71,835.21, up 1.63% from the previous day and 6.26% from a week earlier.
Forecast Trend Report by Period
If Bitcoin (BTC) prices break above $73,000, short (sell) positions totaling $430 million are likely to be liquidated.
BlockBeats, citing on-chain analytics firm CoinGlass data, reported that if Bitcoin rises above $73,000, short-position liquidations on centralized exchanges (CEX) would amount to $429 million. By contrast, if Bitcoin falls below $70,000, long (buy) positions worth $459 million on centralized exchanges are expected to be liquidated.
Bitcoin is trading sideways in the $71,000 range on the day. According to CoinMarketCap, as of 6:13 p.m. today, Bitcoin was up 1.63% from the previous day at $71,835.21. That is a 6.26% gain compared with a week earlier.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
