🚀 The crypto market is up 0.7% over the past 24 hours, and the rebound is starting to pick up pace.
The rally has been driven mainly by improving regulatory expectations, with institutional confidence showing signs of recovery. Meanwhile, highly leveraged positions have been flushed out en masse: liquidations for #BTC surged by more than 2,100% over the past 24 hours, giving it a bit of a “shakeout first, rally later” feel.
In the short term, keep an eye on $2.85 trillion: holding above it could open the door to another push toward $2.94 trillion; a drop below $2.78 trillion could bring renewed volatility.
Around 48,000 traders were liquidated across the market over the past 24 hours, totaling $169 million, with short positions accounting for $121 million.
The short-term outlook is bullish, and $2.85 trillion is the key level.
The rally has been driven mainly by improving regulatory expectations, with institutional confidence showing signs of recovery. Meanwhile, highly leveraged positions have been flushed out en masse: liquidations for #BTC surged by more than 2,100% over the past 24 hours, giving it a bit of a “shakeout first, rally later” feel.
In the short term, keep an eye on $2.85 trillion: holding above it could open the door to another push toward $2.94 trillion; a drop below $2.78 trillion could bring renewed volatility.
Around 48,000 traders were liquidated across the market over the past 24 hours, totaling $169 million, with short positions accounting for $121 million.
The short-term outlook is bullish, and $2.85 trillion is the key level.