The Bitcoin market is currently on edge as prominent analyst Crypto Rover warns of a potential liquidation event that could negatively affect the short holders. With Bitcoin trading within a significant consolidation phase, as revealed by Rover, analysis suggests that over $3 billion in short positions could face liquidation should Bitcoin climb back to a specific price mark. Related Reading: Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window Bitcoin Bears Beware Of This Price Range According to Rover, the crucial price mark, which is the $71,600 region, is where the $3 billion short liquidation would occur if Bitcoin reclaims it. Rover’s assessment is based on data gathered from CoinGlass, a renowned derivative market tracker, indicating a substantial liquidity accumulation at higher price levels. The recent warning from Crypto Rover comes amidst a period of turbulence in the crypto market, marked by sharp price movements and heightened trading activity. Particularly, Bitcoin experienced a sudden decline over the weekend, bringing its price to as low as $62,000 in the zone. However, in the early hours of Monday, the asset showed signs of recovery, briefly reaching a high of $66,797 before retracing to its current price of $64,711. The market downturn over the weekend witnessed a record number of liquidations, with over $1.2 billion in Bitcoin long positions liquidated in a single day, according to WhaleWire. JUST IN: Over $1.2 Billion in #Bitcoin longs have been liquidated over the last 24 hours, amid market decline, setting a new record. The previous record was $879M. Today, more Bitcoin bulls have been liquidated than on any day in the last 15 years. Another reason why buying up… pic.twitter.com/itnwb7rj1d — WhaleWire (@WhaleWire) April 13, 2024 The liquidation hasn’t stopped, as the latest data from Coinglass reveals that in the past 24 hours alone, 89,151 traders have been liquidated, resulting in a total loss of $266.10 million. Analyst Insights And Market Dynamics It is worth noting that Bitcoin’s recorded slight recovery comes as Hong Kong regulators granted provisional approval for asset managers to launch spot Bitcoin and Ethereum exchange-traded funds (ETFs). Crypto analyst Willy Woo has shared his perspective on the potential impact of Bitcoin exchange-traded funds (ETFs) on market dynamics. According to Woo, introducing the new Bitcoin ETFs could lead to significant price targets, with projections ranging from $91,000 at the bear market bottom to $650,000 at the bull market top. The new #Bitcoin ETFs brings price targets of $91k at the bear market bottom and $650k at the bull market top once ETF investors have fully deployed according to asset manager recommendations***. These are very conservative numbers. #Bitcoin will beat gold cap when ETFs have… — Willy Woo (@woonomic) April 15, 2024 Woo’s analysis underscores the growing institutional interest in BTC, with asset managers expected to allocate a substantial portion of their funds to the cryptocurrency. Related Reading: The Ultra Wealthy Are Investing Big Time In Bitcoin, Barbara Goldstein Reveals However, Woo emphasizes that these projections are conservative estimates, and Bitcoin’s market capitalization could exceed gold as more capital is deployed into the asset. Featured image from Unsplash, Chart from TradingView
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Is It Too Late to Invest in Floki? Floki Price Leads as AI Meme Coin Readies for Exchange Listing
Over the last seven days, popular ERC-20 meme coin Floki ($FLOKI) outpaced crypto’s favorite doggy meme coins and rallied a blistering 23.7% to trade at $0.0002138. Floki’s rally comes as a sea of green candles across most leading cryptocurrencies makes for an emerald market. Leading cryptocurrency Bitcoin ($BTC) is the usual pacesetter, and in the The post Is It Too Late to Invest in Floki? Floki Price Leads as AI Meme Coin Readies for Exchange Listing appeared first on Cryptonews .
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WEEKLY CRYPTO PRICE ANALYSIS: BTC, ETH, BNB, SOL, XRP, ADA, And DOGE
Weekly crypto price analysis for major tokens such as Bitcoin( BTC), Ethereum (ETH), Binance(BNB), Solana(SOL), Ripple (XRP), Cardano(ADA), and Dogecoin(DOGE) shows a mixed outlook for the market. Most digital assets display positive momentum and challenging resistance levels, with slight correction over the past the 24-hours. Leading the pack, Bitcoin (BTC) has successfully maintained its position
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Why the Recent Bitcoin Halving is Good News For Casinos
On April 20, 2024, the latest Bitcoin halving finally took place, cutting the rewards per Bitcoin block in half. This event, which takes place every few years, is one of the most anticipated events in the crypto calendar and has far-reaching implications on virtually every part of the industry.
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Anthony Scaramucci Reiterates Bitcoin Bullish Drive Amid Institutional Inflows
SkyBridge Capital’s Anthony Scaramucci has doubled on the institutional adoption of Bitcoin (BTC) following recent revelations of spot BTC ETF exposures. In a recent CNBC interview, Scaramucci noted the bullish stance on institutions after the Securities and Exchange Commission (SEC) approved spot ETFs in January. "When you do the homework on Bitcoin, you go towards The post Anthony Scaramucci Reiterates Bitcoin Bullish Drive Amid Institutional Inflows appeared first on CoinGape .
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Binance Founder Changpeng ‘CZ’ Zhao Yet To Enter Prison: Report
According to a Protos report, Binance founder Changpeng Zhao (CZ) is yet to commence his four-month sentence. This is due to some formalities in the criminal justice system that need to be followed. Why Binance Founder is Yet to Enter Prison The report stated that the Binance founder was supposed to receive a notice from The post Binance Founder Changpeng ‘CZ’ Zhao Yet To Enter Prison: Report appeared first on CoinGape .
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Ethereum eyes recovery, trails surge in Bitcoin
Ethereum has breached the milestone of $3,000 and is now looking to test the next-best resistance of $3,050. However, an actual recovery depends on how Bitcoin makes a move on the price chart. ETH is essentially trailing BTC, with Bitcoin moving above $65,000 at the time of writing this article. More specifically, BTC is listed …
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