Amidst this bearish warning, the coin’s price’s continued upward movement towards the elusive $100,000 mark has become the center of attention in the crypto community. Related Reading: Bitcoin Price Mirrors 2017 Pattern, Is The Top Only 2 Weeks Away After Hitting $100,000? $100,000 Bitcoin Price As A Psychological Resistance Crypto analyst Gert van Lagen recently took to X (formerly Twitter) to announce to his 108,000 followers that the Bitcoin price is approaching the $100,000 all time high.
According to Ali Martinez, $1.89 billion is set to be liquidated if Bitcoin jumps to the $100,625 level. Based on the analyst’s chart, this Bitcoin liquidation represents its "cumulative short liquidation leverage.” This analysis follows reports of a large-scale Bitcoin liquidation, as Martinez recently revealed that a whopping 65,000 BTC, valued at $6.37 billion, was withdrawn from exchanges. Related Reading: Chinese Court Declares Personal Crypto Ownership Legal In Mainland China Martinez has also revealed that Bitcoin’s TD Sequential is flashing a sell signal on its 4-hour chart.
For now, the price is trading at $98,560, marking a 7.63% increase in the last seven days as bullish sentiment and momentum continue to grow. Massive Liquidation To Follow If BTC Hits $100,000 Although the crypto market is anticipating Bitcoin’s price rise to $100,000, a prominent analyst has revealed that massive liquidation could be triggered once BTC reaches this fundamental level.
The story "Analyst Sounds Bearish Alarm For Bitcoin As $100,000 Presents Psychological Resistance" has 488 words across 61 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "Analyst Sounds Bearish Alarm For Bitcoin As $100,000 Presents Psychological Resistance" was covered 12 hours ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 8 news stories per day.
It's most recent story was published 9 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
