Currently, Bitcoin is priced at 108,796 USD, marking a 3.14% drop from its all-time high of 111,970 USD. Analysts from Bitfinex noted a lack of buying strength, and if BTC moves past this threshold, it could lead to the liquidation of significant short positions amounting to 1.63 billion USD.
Bitfinex analysts describe the market as being in a state of ‘delicate equilibrium’, with profit-taking pressures easing but low buying interest. Since late June, Bitcoin has remained consolidated between 100,000 USD and 110,000 USD, reflecting uncertainty among traders with no clear direction.
Leave a Reply