🚨 Daily Review of Bitcoin
❌ According to CoinGlass data, approximately 223,397 liquidations of trading positions were recorded in the market over the past 24 hours, with total losses estimated at $980.03 million. About 89% of these liquidations were in long positions, while short positions accounted for only about 11%.
The market today experienced a strong correction, yet Bitcoin maintained its level above the $100,000 barrier, gradually starting to recover.
My current view: I do not believe that the decline has reached its end yet; rather, I expect the downward wave to continue. We may witness a retest of the strong support level at $100,000, and perhaps a slight break before the upward trend resumes.
📈 In contrast, Bitcoin's dominance in the cryptocurrency market has seen a noticeable increase, currently at 64.6%, which has negatively impacted alternative coins that experienced a sharp decline following Bitcoin's rise.
