Over $405 Million Liquidated in the Last 24 Hours, $229.58 Million From Shorts and $176.1 Million...

Over $405 million liquidated in the last 24 hours

Of this $229.58 million was liquidated for short positions

While $176.1 million was liquidated from long positions.

The price of Bitcoin (BTC) went on to set two consecutive new ATH prices in the $125,500 price range, igniting bullish sentiment to send BTC soaring to new higher ATH prices soon. With BTC now trading at the $123,000 price range, over $405 million liquidated in the last 24 hours, of which $229.58 million was liquidated from short positions and $176.1 million was liquidated from long positions

Over $405 Million Liquidated in the Last 24 Hours

Yesterday, the price of the pioneer crypto asset, Bitcoin (BTC), went on to hit two consecutive new ATH prices in a matter of hours. First, the latest ATH price was hit in the $125,505 price range and then went on to hit another bullish ATH price in the $125,559.21 price range. Since then, the price of Bitcoin (BTC) has dwindled slightly to trade at a lower price range in the $123,000 area

The crypto community, while eager to see higher ATH prices, are still analyzing what the price of BTC could likely do next. So far, many bull predictions for BTC have led to expectations for BTC hitting its next ATH targets between the $130,000 - $135,000 and the $140,000 - $145,000 price range. In contrast, one analyst believes a great decline will come that will take the price of BTC to the $90,000 price range

As we can see from the post above, over $405 million were liquidated in the last 24 hours, with $229.58 million being liquidated from short positions and $176.10 million being liquidated from long positions. Responses to the post state that these liquidations are not just signs of market volatility, but rather of leverage being reset on both sides. The response concludes that this move is of markets clearing out excess before direction resumes

Losses in Both Short and Long Order Trades

Overall, analysts and traders debate the possibility of this price action being a shakeout before the next leg up for Bitcoin (BTC) or if it is the start of a major cooldown. This would either take the price of BTC to hit new ATH prices between $130,000 and $140,000 or send it to cover a CME Gap in the $90,000 price range. Either way, most forecasts are of a bullish Q4 close this year for crypto.

As the charts in the post above showcases, Bitcoin just broke above $125,000, hitting a new ATH target, and one whale’s long positions on BTC and PUMP are now sitting on nearly $15 million in unrealized profits. The post draws attention to the fact that this whale has already made $2.5 million from previous BTC and ETH longs. What direction will the price of bTC go in next?