Willy Woo: Bitcoin breaking through $72,000 will lead to $800 million in short positions being closed
Cryptocurrency analyst Willy Woo stated that if Bitcoin breaks through $72,000, it will trigger a large-scale liquidation and pave the way for a new all-time high. He wrote on the X platform: "Reaching $72,000 is the trigger for a series of liquidations. A large number of short positions may be liquidated at any time, and Bitcoin can reach as high as $75,000, setting a new historical high." According to CoinGlass data, if Bitcoin's price breaks through $72,000, the accumulated leveraged short positions of all exchanges will be liquidated for $800 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum ETFs gain traction with $13 billion in trading volume, but ETH price impact remains subdued
Since their launch on July 23, ether ETFs have been chugging along, accumulating $13 billion in cumulative spot volume across nine funds.The following is an excerpt from The Block’s Data and Insights newsletter.
Bitcoin gears up for 'transition phase' as parabolic rise looms, trader highlights
Australia to Require Crypto Exchanges to Obtain Financial Services Licenses