Bitcoin Don Bounce Pass $114K, E Don Wipe $107M for Shorts
Bitcoin don bounce pass $114,984 after e drop reach three-week low of $112,080 for weekend. The drop start for Friday as Coinbase Premium, wey be indicator of US institutional demand, turn negative. Bitcoin late rally trigger $107 million for short liquidations, as traders wey dey use high leverage face forced positions, CoinGlass data talk so. CryptoQuant CEO Ki Young Ju warn say if you use leverage pass 5x, e go sharply increase risk of liquidation anytime price dey swing 2% daily, and this one happen 82% of trading days this month. The volatile weekend show say make trader dey careful for leverage trading as institutional interest dey change and e fit make price for Bitcoin market quick move sharply.
Bullish
Di bullish talk na, e show how Bitcoin take strong recover pass $114K plus the level of short liquidations wey follow after. E be like old short squeezes dem — like the quick rebound for early 2024 — large forced liquidations dey usually push more upside momentum as leveraged bears dey cover dem positions. For short term, di price jump fit attract fresh buying from traders wey dey try knack money from volatility plus institutional reentry wey hidden demand change dey show. For long term, steady interest from U.S. institutions, wey you fit see for the turning points inside Coinbase Premium, fit support higher price floors and reduce how often tori deep pullbacks happen.