- Bitcoin Futures order book remains loose.
- Bybit moves $3.3 billion worth of BTC to new wallet.
The price action of Bitcoin [BTC] is creating a dynamic environment as its Futures order book remains loose.
Recent data from the Bitcoin liquidation heatmap showed heightened activity, suggesting potential liquidations that could trigger price movements.
This creates a playground for large players to influence price movements in the zone between $67.5K and $69.5K, signaling volatility.
With Futures positions competing in these zones, Bitcoin’s price could see rapid swings up or down with relatively small amounts of capital.
Source: Coinglass
A key support level at $63K may be tested if Bitcoin fails to hold above its key Fibonacci retracement level. However, long-term holders may find reassurance in strong support from the 180 and 120-day moving averages.
With nearly 49,000 BTC moved from Bybit’s cold storage to a new wallet, some investors are paying close attention to these significant transfers.
Such large-scale transactions could signal market shifts, and the Bybit team’s internal movement of assets should be carefully monitored, especially with liquidations in play.
Source: Arkham
BTC local top and sentiment
In terms of price forecasts, Bitcoin is approaching resistance at $70K, with CME Futures slightly above current prices.
Market participants are keenly watching whether BTC can break through this resistance or face rejection.
Bulls will need to defend the $68K support level, as maintaining this price is crucial for preventing a more significant drop.
Historically, when unrealized profits rise sharply, as they currently have (exceeding $7 billion), traders tend to cash in, which could ramp up selling pressure and trigger a local top before a pullback.
Source: CryptoQuant
Additionally, sentiment surrounding Bitcoin has turned more positive after a period of pessimism. There has been a noticeable shift towards bullish sentiment on social media.
Buying during fear and selling during euphoria has historically been profitable for traders. This trend boosts confidence for those seeking to capitalize on current market dynamics.
Read Bitcoin’s [BTC] Price Prediction 2024–2025
As Bitcoin moves through its swing price range and key resistance levels, traders must stay alert for shifts. Volatility is likely in the coming weeks, with large players influencing the market through strategic trades.
The key question is whether Bitcoin will break higher or face a short-term correction before its next rally. Price swings are expected within the two major liquidation zones, creating opportunities for both Futures and spot traders.
- Bitcoin Futures order book remains loose.
- Bybit moves $3.3 billion worth of BTC to new wallet.
The price action of Bitcoin [BTC] is creating a dynamic environment as its Futures order book remains loose.
Recent data from the Bitcoin liquidation heatmap showed heightened activity, suggesting potential liquidations that could trigger price movements.
This creates a playground for large players to influence price movements in the zone between $67.5K and $69.5K, signaling volatility.
With Futures positions competing in these zones, Bitcoin’s price could see rapid swings up or down with relatively small amounts of capital.
Source: Coinglass
A key support level at $63K may be tested if Bitcoin fails to hold above its key Fibonacci retracement level. However, long-term holders may find reassurance in strong support from the 180 and 120-day moving averages.
With nearly 49,000 BTC moved from Bybit’s cold storage to a new wallet, some investors are paying close attention to these significant transfers.
Such large-scale transactions could signal market shifts, and the Bybit team’s internal movement of assets should be carefully monitored, especially with liquidations in play.
Source: Arkham
BTC local top and sentiment
In terms of price forecasts, Bitcoin is approaching resistance at $70K, with CME Futures slightly above current prices.
Market participants are keenly watching whether BTC can break through this resistance or face rejection.
Bulls will need to defend the $68K support level, as maintaining this price is crucial for preventing a more significant drop.
Historically, when unrealized profits rise sharply, as they currently have (exceeding $7 billion), traders tend to cash in, which could ramp up selling pressure and trigger a local top before a pullback.
Source: CryptoQuant
Additionally, sentiment surrounding Bitcoin has turned more positive after a period of pessimism. There has been a noticeable shift towards bullish sentiment on social media.
Buying during fear and selling during euphoria has historically been profitable for traders. This trend boosts confidence for those seeking to capitalize on current market dynamics.
Read Bitcoin’s [BTC] Price Prediction 2024–2025
As Bitcoin moves through its swing price range and key resistance levels, traders must stay alert for shifts. Volatility is likely in the coming weeks, with large players influencing the market through strategic trades.
The key question is whether Bitcoin will break higher or face a short-term correction before its next rally. Price swings are expected within the two major liquidation zones, creating opportunities for both Futures and spot traders.
how to get generic clomid without dr prescription cost of generic clomiphene prices cheap clomid for sale clomiphene tablete can i buy cheap clomiphene pill how to get generic clomid get generic clomiphene without a prescription
Thanks on sharing. It’s first quality.
More posts like this would force the blogosphere more useful.
order azithromycin 250mg online cheap – tinidazole 500mg brand order metronidazole 200mg without prescription
domperidone order online – cost domperidone order flexeril 15mg generic
azithromycin 500mg pills – nebivolol oral order generic bystolic 5mg
where can i buy clavulanate – https://atbioinfo.com/ ampicillin online
purchase nexium pills – nexiumtous order generic nexium 20mg
warfarin 2mg usa – coumamide buy cozaar pills for sale
order meloxicam generic – https://moboxsin.com/ meloxicam 15mg ca
generic prednisone 40mg – asthma prednisone for sale online
buy ed pill – fast ed to take site buy ed pills paypal
buy amoxil – oral amoxil purchase amoxicillin generic
buy diflucan online – https://gpdifluca.com/ buy generic diflucan 100mg
order escitalopram pill – https://escitapro.com/# how to get escitalopram without a prescription
buy cenforce generic – https://cenforcers.com/# order cenforce 50mg pill
when does cialis go generic – fast ciltad side effects of cialis tadalafil
trusted online store to buy cialis – strong tadafl cialis available in walgreens over counter??
zantac price – https://aranitidine.com/ order ranitidine 300mg online
order viagra in uk – https://strongvpls.com/ online viagra