$33.14 Billion At Risk If The Bitcoin Price Hits $72,462, Here’s Why

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This could pave the way for an extended rally to this liquidation price and even beyond.  Related Reading: XRP Price Prediction: Analysts Turn Bullish As Something Big Is Coming’, Here’s What The liquidations of these Bitcoin shorts could be bullish for the flagship crypto, leading to an extended rally to new highs, especially with the current ATH of $73,00 being in sight once the price hits $72,462.

BlackRock, in particular, added $1.14 billion worth of BTC to its holdings.  Bear Analyst Warns Crypto Traders Analyst Justin Bennett, known for bearish analysis, has warned traders to be cautious about trading amid this recent Bitcoin price rally.

This relates to the short positions that could be liquidated if the flagship crypto hits that price target, a development that will be bullish for BTC.  Almost $33.14 Billion Will Be Wiped Out If Bitcoin Price Hits $72,462 Ash Crypto mentioned the liquidation alert in an X post, revealing that $33.14 billion worth of shorts will be liquidated if the Bitcoin price hits $72,462.

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Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: BTC news Btcusd Crypto news Btc BTCUSDT Btc price Crypto Analyst Bitcoin Bitcoin price Crypto analyst Bitcoin Bitcoin news

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-19 @ 23:00:19 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 471 words

Reading Time: 3 minutes read

Sentences: 66 lines

Sentence Length: 8 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 23129918

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