The cryptocurrency market is showing initial signs of recovery today, despite ongoing short-term bearish warnings. The liquidation of shorts and some positive news are contributing to rising asset prices.
Signs of Recovery in the Crypto Market
Investor sentiment improved today as some cryptocurrencies began to rise, but not all assets are performing positively. For instance, DOGE and HYPE are seeing gains, while the overall state of the market remains uncertain.
Liquidations: A Brief Overview
On June 14, the total liquidation exceeded $202 million. According to CoinGlass, 62,913 traders were liquidated, indicating a substantial amount of short liquidations compared to longs. These liquidations may signal a new rally in the cryptocurrency market.
Market Outlook
Short-term forecasts remain bearish amid various macroeconomic events and the Israel-Iran conflict. However, historical analysis shows that similar situations, as seen in October 2024, could lead to subsequent market growth. The long-term predictions for Bitcoin this year are generally positive.
The cryptocurrency market remains under pressure, but short liquidation suggests potential for price increases. Investors continue to monitor the situation, taking into account both macroeconomic factors and events influencing market sentiment.
