An analyst at Rekt Capital said that Bitcoin breaking through $65,000 means that the price will be ready to enter the $65,000-71,500 range, and if BTC rises to $71,500, the next important stage will be the high of $73,649 reached on March 13. However, a large number of short positions are at risk of being liquidated at 71,500 dollars, which means that many futures traders believe that the price will not reach this level for now. According to CoinGlass, at 71,500 dollars, about $1.47 billion of short positions will be liquidated.
Nonetheless, confidence among futures traders has revived over the past five days, with non-position squaring contracts (OIs) - the total number of unexecuted bitcoin options contracts held by traders at a given time - surging 13% over the same period.
Analysis: Bitcoin Breaks Through $65,000 Means Price Will Prepare to Enter $65,000-71,500 Range
2024-07-17 04:50:28
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