$182,330,000 worth of crypto was liquidated as Bitcoin (BTC) broke 26-month highs above $53,600
Bitcoin's big start to the week is triggering a huge amount of liquidations in the crypto markets.
At the time of writing, Bitcoin is trading at $53,584 while Ethereum is changing hands at $3,152, a price not seen since November 2021.
According to crypto data aggregator Coinglass, liquidations totaling $182.33 million have rocked traders at Binance, Bybit, OKX, Huobi and others, with the vast majority of them coming from those trying to get BTC in the last few hours to sell short.
As BTC price breaks the wall of bears, analysts are speculating about the next major resistance levels.
The Glassnode founders Jan Happel and Yann Allemann, on the social media platform
“BTC finally appears to be breaking out of the range it has been in since February 15th.
The dynamics are increasing rapidly. All sails are set.
Next level is 57-58 – before ATH.”
Source: Negentropic/X
According to analysts, all-time highs could come sooner than most people expect.
The pseudonymous analyst Altcoin Sherpa tells his 208,000 followers
“BTC: I have no idea why we are pumping, but I am all for it. However, we expect BTC to still outperform most altcoins in the short term.”
Source: Altcoin Sherpa/X
In a new interview with SkyBridge Capital founder Anthony Scaramucci on YouTube channel Wealthion, venture capitalist Dan Tapiero says he doesn't expect a significant correction for Bitcoin and that BTC will likely never rise to $20,000 again.
“So if you say, 'I think we're going to see Bitcoin go back to the lows of $20,000 and $18,000,' I don't see that at all.
I believe we are in the second round of this bull market, so I would be much more concerned and suspect that there [could be] There could be trouble if I felt like we were in the seventh or eighth inning. The bullish consensus is 75-80% – I mean, that's a problem, but maybe [it] just means you have a short term correction.
We’re just getting started here.”
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