After Bitcoin’s rise, it was a matter of curiosity whether the rally would continue.
In a post, on-chain analysis platform CrpytoQuant announced the metric to be monitored moving forward. With the recent increases in Bitcoin 100 million dollar sHorde positions were liquidated.
CryptoQuant, after the liquidations 2 important points drew attention. At the end of last year and this month ETF approval major liquidations and the accompanying spot Bitcoin investments had been realized.
A similar pattern occurs in this upward cycle. If there is no purchase demand It was stated that a correction in the price was possible. On the other hand, these liquidations are expected to occur in the short term. continuation of the great rise It is stated that it plays a key role in
CryptoQuant author warns that if the events in question occur, investors will funding rates And profitability of short-term investors He said he had to follow up. If there is an increase in these metrics “overheating” It was emphasized that it may occur.
According to CoinGecko data, Bitcoin, at the time of writing 52,283 It is traded in dollars.