Bitcoin On A Rebound? Here Are Key Levels To Watch

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Related Reading: Galaxy Research Reveals Bitcoin, Ether And Dogecoin Price Projections In 2025 Crypto Forecast Bitcoin Must Stay Above $93,400 To Retain Bullish Drive In an X video post on December 28, Martinez stated that Bitcoin may be preparing for a price recovery according to certain market indicators.

Martinez believed that market makers would target this price zone which represents a significant concentration of leveraged trading positions.  Market makers often attempt to eliminate these leveraged positions leading to an increased market liquidity and volatility, on which they can capitalize to make trades at favorable prices.  Another market development that supports Bitcoin’s potential rebound is an increase in long traders on the Binance exchange from 53.12% to 64.04%.

Related Reading: Crypto Market Remains Greedy Despite Bitcoin Price Crash To $94,000, Is A Recovery Coming?

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Article Details

Author / Journalist: Semilore Faleti

Category: Crypto

Markets: United Kingdom

Topics: Btcusd BTCUSDT Bitcoin Bitcoin Ali Martinez Bitcoin market rebound

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-29 @ 18:30:33 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 411 words

Reading Time: 3 minutes read

Sentences: 65 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 24727921

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 8 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 10 hours ago

Coverage Areas: United Kingdom

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