BITCOIN HOLDS THE $80K LEVEL AFTER A MAJOR LIQUIDATION. TIME TO BE OPTIMISTIC?
After a sharp wave of liquidations, Bitcoin remained around $80.3K during the US session. This suggests the market is relatively stable, but there is not yet enough evidence to confirm a new recovery trend.
24-hour liquidation data shows:
- BTC: $174.3 million, of which $153.9 million was in long positions.
- ETH: $162.5 million, of which $136.7 million was in long positions.
- Total BTC and ETH liquidations: approximately $336.8 million, with nearly 86% coming from long positions.
Notably, open interest remains high, at around $53.7 billion for BTC and $29.7 billion for ETH. This means that although a large amount of leverage has been wiped out, the market could still see sharp volatility if prices move quickly through key levels.
The FOMC meeting on October 27โ28 is the next factor to watch. If BTC holds its support zone and forced selling continues to ease, the market may find some stability. Conversely, if the price breaks below its recent lows, the remaining leveraged positions could amplify the decline.
There is not yet enough data to confirm that institutional capital has returned to buying. The key is to monitor price action and fund flows over the next few sessions, rather than focusing on just one liquidation event.
Do you think BTC has absorbed the selling pressure, or is it just taking a breather ahead of the Fed meeting?
#bitcoin #Ethereum #crypto
#BinancePick
After a sharp wave of liquidations, Bitcoin remained around $80.3K during the US session. This suggests the market is relatively stable, but there is not yet enough evidence to confirm a new recovery trend.
24-hour liquidation data shows:
- BTC: $174.3 million, of which $153.9 million was in long positions.
- ETH: $162.5 million, of which $136.7 million was in long positions.
- Total BTC and ETH liquidations: approximately $336.8 million, with nearly 86% coming from long positions.
Notably, open interest remains high, at around $53.7 billion for BTC and $29.7 billion for ETH. This means that although a large amount of leverage has been wiped out, the market could still see sharp volatility if prices move quickly through key levels.
The FOMC meeting on October 27โ28 is the next factor to watch. If BTC holds its support zone and forced selling continues to ease, the market may find some stability. Conversely, if the price breaks below its recent lows, the remaining leveraged positions could amplify the decline.
There is not yet enough data to confirm that institutional capital has returned to buying. The key is to monitor price action and fund flows over the next few sessions, rather than focusing on just one liquidation event.
Do you think BTC has absorbed the selling pressure, or is it just taking a breather ahead of the Fed meeting?
#bitcoin #Ethereum #crypto
#BinancePick