Summary
- Matrixport said the liquidation size of Bitcoin (BTC) perpetual futures remained limited.
- The report said the absence of excessive long positions is a factor that reduces downward price pressure and increases upside potential.
- Glassnode said Bitcoin's 24-hour liquidation size was 38 million dollars, which is lower compared to Ethereum and other altcoins.
An analysis said that the liquidation size of Bitcoin (BTC) perpetual futures has remained modest, increasing the likelihood of a rise.
On the 16th (local time), Matrixport said in a report, "Recently Bitcoin fell to 106,000 dollars, but the size of forced liquidations remained limited," adding, "This means leverage positions in the futures market are not excessively skewed toward the long (buy) side."
It added, "This structure reduces downward price pressure and is a factor that increases the likelihood of a rise," and said, "If Bitcoin rebounds, the pace of the rise could accelerate."
Meanwhile, according to Glassnode, over the past 24 hours Bitcoin experienced liquidations amounting to 38 million dollars. This is lower compared to Ethereum (109,110,000 dollars) and other altcoins (73,120,000 dollars).
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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