This week, Bitcoin's long liquidation dominance surged from 0% to 10% while prices held steady in the $103,000 to $106,000 range.
Surge in Bitcoin's Long Liquidation Dominance
The rise in Bitcoin's long liquidation dominance this week serves as a significant signal of strong buyer support. CryptoQuant analyst Axel Adler noted: "On June 21, long-liquidation dominance surged from 0% to 10% this week, while Bitcoin stayed in the $103,000–$106,000 range—a good signal, as it suggests strong buyer support."
Price Stability of Bitcoin
Despite the rise in liquidations, Bitcoin's price showed resilience, remaining steady at significant levels. This indicates buyer strength and a lack of price drops below critical support.
Future Market Movements
If the liquidation dominance continues to fall, it may indicate a bullish shift. Analysts will monitor the $102,000 level as a key support line impacting future trading strategies.
The recent changes in Bitcoin's long liquidation dominance have a significant effect on the market. Price stability and buyer support may indicate a potential bullish reversal in the future.
