$16 Billion In Possible Liquidations Suggests Where The Bitcoin Price Is Headed Next

$16-billion-in-possible-liquidations-suggests-where-the-bitcoin-price-is-headed-next
Bitcoin

Crypto analyst Kevin Capital has provided insights into where the Bitcoin price may be headed next. The analyst alluded to the current liquidation data, revealing that there are currently $16 billion in possible liquidations from BTC’s current price to the $107,000 price level. 

Liquidation Data Indicates A Bitcoin Price Recovery Is Imminent

In an X post, Kevin Capital revealed that there is only $1.5 billion in long liquidations from the current Bitcoin price to the $77,000 price level. On the other hand, there is $16 billion in short liquidations from the current price to the $107,000 level. The analyst remarked that this is one of the biggest disparities in history. 

He further noted that the market makers prefer to move prices where they can most transact. As such, this suggests that the Bitcoin price could rebound as these market makers look to grab the liquidity at the upside. Kevin Capital remarked that patience is still needed while the 3-day resolves itself. However, he added that overall, things are looking a little clearer for the bulls. 

The Bitcoin price has crashed over the past two days, dropping to as low as $86,000, sparking concerns that the bull run might be over. However, Kevin Capital’s analysis provides some optimism that the bull run is far from over and that the flagship crypto could still reclaim the $100,000 price level and possibly reach new highs. 

BTC’s long-term holders also seem confident that the Bitcoin price will still go higher. In an X post, crypto analyst Ali Martinez revealed that they had accumulated almost 20,400 BTC following the sharp sell-off that began two days ago. 

Bitcoin
Huge accumulation by long-term BTC holders | Source: Ali Martinez on X

BTC Could Still Drop To The $80K Lows

Crypto analysts Ali Martinez and Titan of Crypto have suggested that the Bitcoin price could still drop to the lower part of the $80,000 range. In an X post, Martinez stated that Bitcoin is showing similarities to the 2021 market top. He further remarked that if this pattern holds, there could be a period of consolidation at current levels before the next leg down for BTC. 

His accompanying chart showed that the Bitcoin price could drop to as low as $80,850 when this next leg down occurs. Titan of Crypto also raised the possibility of BTC dropping to $81,000. He stated that BTC is breaking the trendline and dipping below the last wick low. He claimed that BTC’s weekly candle failing to reclaim the trendline could send the flagship crypto to the next support, which is Kijun at $81,000.

At the time of writing, the Bitcoin price is trading at around $88,700, down over 3% in the last 24 hours, according to data from CoinMarketCap.

Bitcoin
BTC trading at $88,601 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott’s dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related Posts

Leave a Reply