Bitcoin Slides Below $113K 💥 – Liquidations Surge
Bitcoin falls on Monday after failing to break $116,000 last week.
Recent liquidations have erased $1.70 billion in crypto holdings in 24 hours, 95% of which were longs.
Metaplanet buys 5,419 BTC, bringing its total to 25,555.
Bitcoin (BTC) falls below $113,000 on Monday after failing to hold above a critical support level the week before. This correction causes liquidations throughout the crypto market, wiping off $1.70 billion in holdings in 24 hours and increasing negative pressure on traders.
Massive liquidations
Bitcoin fell below $111,800 on Monday in European trade.
According to Coinglass statistics, approximately 397,000 crypto traders worth $1.70 billion were liquidated in the previous 24 hours due to this unexpected decline. Notably, 95.08% were long, indicating an extremely optimistic market. The highest liquidation was a $12.74 million BTC-USDT-SWAP position on OKX.
After the price decrease, the worry and Greed Index drops to 45 on Monday, reflecting market caution and worry.
Despite the price reduction, institutional and corporate BTC demand remains high. SoSoValue statistics reveal that Bitcoin spot Exchange Traded Funds (ETFs) saw $886.65 million in inflows last week, its fourth straight week of positive flows.
On Monday, Japanese investment company Metaplanet added 5,419 BTC to its 25,555 BTC position, indicating rising corporate interest. Europe’s First Bitcoin Treasury Company Capital B added 551 BTC to its treasury holdings, currently 2,800 BTC.
Bitcoin Price Prediction: Bears target $107,000
After breaking below $116,000 on Friday, bitcoin fell modestly over the weekend. At $113,926 on Monday, it continues its drop below the 50-day Exponential Moving Average (EMA).
BTC may fall to its next daily support at $107,245 if it closes below the 50-day EMA at $113,926.
BTC may rebound toward its daily barrier around $116,000 if it finds support around the 50-day EMA at $113,926.
#MarketPullback #USNationalDebt #GENIUSAct #Write2Earn #BTC $BTC $ETH $XRP
