Bear Warning For Bitcoin And Altcoins From CryptoQuant Analyst!

Cryptocurrency markets, especially Bitcoin (BTC) and Ethereum (ETH), are having a green week.

With this rise, it is seen that Bitcoin has risen above $ 20,000 and Ethereum above $ 1,500.

Popular as investors wonder if this rise will continue cryptocurrency analytics platform CryptoQuant analyst maartunA new analysis of the cryptocurrency market came from

Noting that the liquidation of short positions is at the highest level in 15 months in his blog post, the analyst said that this may be a sign that the bear market will continue.

With the opening time of the US stock markets BTC, ETH and altcoinStating that crypto money investors who are in short positions in recent years have started to be liquidated, the analyst said:

“Liquidations of short positions in bitcoin and altcoins are at a 15-month high. Because in the last 24 hours, a total of approximately 320 million dollars worth of short positions have been liquidated.

The important and main question here is: Will the bulls have the strength to keep Bitcoin price above the $20,000 level and support BTC?

The answer to this question will be very important considering that the monthly close will be in a few days.”

Short Liquidations on the highest level in 15 months
by @JA_Maartun

Check👇https://t.co/mudU0XX7Qn

— CryptoQuant.com (@cryptoquant_com) October 26, 2022

In this context, the analyst drew attention to the importance of making a monthly closing above $20,000 and underlined that this level should be maintained.