The price of BTC is testing the historical high of $110,000, with a total liquidation amount of nearly $300 million in the past 24 hours.
The price of Bitcoin has rebounded strongly, recovering all its losses from the previous days, and this morning it briefly broke the $109,000 mark, currently aiming for the historical high of $112,000. This market trend indicates a significant recovery in market sentiment, with bulls regaining control and pushing the entire cryptocurrency market to continue climbing.
According to the latest data from Coinglass, the total liquidation amount in the contract market in the past 24 hours is close to $300 million, with short positions accounting for as much as 85%, reaching $256 million. Specifically, the liquidation amount for Bitcoin is about $105 million, Ethereum's liquidation amount is also close to $100 million, and other altcoins have a total liquidation of $22.49 million.
From a technical perspective, Bitcoin is maintaining a sideways consolidation pattern on the daily chart. The market's focus has now shifted to whether this round of rising prices can continue to break through, and when a phase of adjustment will occur. It is advised that investors closely monitor changes in volume and the breakout of key resistance levels, and manage position risks appropriately.
Do you think Bitcoin can break through the historical high of $112,000 in the next few days? Will the current market volatility affect your investment decisions? Leave your thoughts and strategies in the comments section!
