Bitcoin (BTC) rallied above $ 93,000, which led to a large -scale elimination of recently built short positions. During the last 24-hour period, BTC saw more than $ 300 million with a short elimination.
Bitcoin (BTC) raised above $ 93,000, which led to the elimination of $ 300 million in short positions. Before recent price restoration, BTC quickly rebuilt derivative positions, greatly distorting at short rates. Additional Short positions They appeared after Easter weekend with low activity, dominating in accessible long liquidity.
The recent BTC liquidation was the largest since March 3, which coincided with a general recovery after correction in April. Long liquidations are still taking place, but this is part of recent short liquidations.
Bitcoin switches to greed
The transition to a higher price range signaled about the attack on a more bear mood for BTC. Despite the significant rates that the BTC will slip, the market decided to first attack short positions. After a recent liquidation, BTC accrues more significant long positions in the range from $ 87,000 to 89,000 US dollars, which contributes to another decrease in prices for these levels. Nevertheless, a quick short liquidation established the expectations that the BTC will be up to $ 100,000 in expanded recovery.
The BTC market device has been switched within a few days caused by a tidal change in derivatives. Bitcoin fear and the greed index switched from the weeks of terrible moods to the territory of “greed”, gaining 29 to 72 points last week. On Tuesday, the BTC is traded at 93,936.38 US dollars, riding an impulse since the beginning of a new week.
The BTC rally also led to the restoration of altcoins, although the leading coin still had 61.2%dominance. The recent BTC rally signals that the market is ready to restore, despite the recent pressure on negotiations on US tariffs.
Bibit saw the largest liquidation
During April 22, the short liquidation of BTC reached more than $ 517 million, in a higher range over the past few months.
The liquidation was carried out by the positions on the Binance, followed by the bibite. As of April 23, almost all short positions were attacked and closed or eliminated. The remaining short positions lead to the range of $ 97,000, but on a smaller scale.
The BTC Open percentage continues to recover, gaining another 2 billion dollars. The United States over the last day before more than $ 28 B. The leading coin is still an object of interest for the ETF, and long-term whales buy an affordable offer. An increased corporate treasury purchase also increases the mood of BTC. ETF influx quickly responded to updated market sentiments. Data on the chain show that ETF’s tributary had the most successful day since US President Donald Trump took office. Last day, ETF bought BTC in the amount of $ 912.7 million.
BTC has not yet moved above $ 95,000 and set a new assortment. Recent activity is also considered as a potential short -term “hatred rally” aimed at eliminating short positions, and it may take several days to show whether the price move was sustainable.
Derivative markets remain more influential, able to ride in price in the short term, despite the ongoing accumulation of whales in the SPOT and OTC markets. BTC Exchange reserves are still at a record low level of 2.5 million coins, but the possibility of betting when moving prices does not depend on the actual supply of freely affordable BTC.
