Bitcoin (BTC) has made a notable leap in its value, breaking through an area that previously posed a barrier to growth. This event has drawn the attention of traders and analysts.
Recent Movements of Bitcoin
Bitcoin officially broke through a downtrend on April 15 after three unsuccessful attempts in January, February, and March. As of now, BTC is trading around $85,844, up 1.48% from the previous day.
Liquidation Data
In the last 12 hours, $14.94 million in BTC positions were liquidated, with only $599,000 from long positions while $14.34 million came from shorts. This represents a 2,131% imbalance, indicating a massive short liquidation. Total liquidations in 24 hours amounted to $188.37 million.
Future Movement Discussion for Bitcoin
Some traders interpret this event as the beginning of a bullish reversal, especially as Bitcoin holds strong above the breakout level. However, others remain skeptical, asserting that this could just be a temporary squeeze without sustained trend continuation.
From the analysts' perspective, Bitcoin's current movements are intriguing but also carry risks, as short-term liquidations can lead to significant price fluctuations without guaranteeing long-term trend changes.
