These are the tips for BTC long term holders in the BTC futures market liquidation
BTC Futures Market Liquidation
Modified Date:- Published Date:-Categories: Bitcoins
These are the tipsfor BTC long term holders in the BTC futures market liquidation
Recently, Bitcoin (BTC) lost the battle to reach $24,000. This was the case when it reached $24,800 on August 11, after an increase of almost 10% from Wednesday (August 10). Such was the case on July 30, when investors expected $25,000 was inevitable, peaking at $24,500. However, BTC investors may have to wait before they meet investor expectations. According to Crypto Quant analysis, the current market cycle may be far from achieving long bullish momentum.
Notably, at press time, BTC is down 2.87% and was trading at $23,805 according. Crypto quant analysis noted that now may not be the time for investors to cheer. The analysis used the bitcoin futures market to maintain a cautious position. Additionally, as of yesterday (August 11), BTC recorded its highest liquidation volume since late July.
Reportedly, exchange inflow spent output volume bands have revealed that many bitcoin addresses have moved their holdings to exchanges. Looking at Coin Glass data, the BTC futures market liquidated $15.49 billion on the Binance exchange alone in the last 24 hours. Long positions were liquidated at 48,72%, while shorts were up 51.28%.
On the other hand, the BTC futures open interest rate has increased since July, which means that traders are actively trading in the BTC market. Since BTC has closed at$25,000 for some time, investors can expect it to hit the milestone soon. However, the sentiment revealed by the Awesome Oscillator (AO) may be otherwise. Although the AO histogram remained with a bullish edge above the midpoint, the current situation also shows bearish twin peaks.
Interestingly, investors may be holding BTC from reaching $25,000 on optimism as the Bollinger Bands (BB) have shown high volatility. Since bitcoin is not in a complete bear market, it may be time for investors in the overall crypto market to see where the market moves next.
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