Derivatives analysis platform Coinglass drew attention with the data it shared. According to data of 25 October bitcoin The rally, which started under his leadership, liquidated the ‘long’ and ‘short’ positions of $806.39 million.
‘Short traders’ who predicted that the market trend would be ‘downward’ fell victim to the sudden rally. coinglass According to data, a short position of $ 704.75 million was liquidated in a short time.
Long traders who predicted the rally at the wrong time also fell victim to the rally. Traders who mistimed their long bets were also liquidated in a short time, worth $101.39 million.
Analyst Capo warned his investors on Bitcoin’s rise above the $20,000 level. According to the analyst, this rally is a ‘big bull trap’ setup.
According to Capo, Bitcoin triggered a rally to drop back to its $14,000 target before the bulls fell into a trap.
“It’s pretty good that this correction came before the last peak. My guess is we could see a final print up to $21,000 this week. October 27 and November 2 are important because they represent the two dates when interest rates are announced. We may see a bottom in mid-November.”
As we reported as Koinfinans.com, analyst Smart Contracter also bitcoin rallyHe thinks that sudden resistance should be eliminated before the continuation of .
“And we’re back to over $20,000. It’s good to see us outside of this small range, but unfortunately we’re still in a much wider range. Now we need to clear $20,500, which will likely be a challenge.”
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.