Bitcoin shorts above $70K at risk since ‘90% of downside’ is already complete

Bitcoin shorts above $70K at risk since ‘90% of downside’ is already complete

4.79%TRX$0.3204 0.09%BCH$435.28 2.19%DOGE$0.0935 2.42%XLM$0.1553 3.02%ETH$2,365 7.18%BNB$616.20 3.44%SOL$86.02 4.69%HYPE$44.65 6.88%XMR$347.54 1.42%XRP$1.36 2.96%ADA$0.2447 2.63%BTC$74,430 4.61%USD Written by Biraajmaan Tamuly,Staff WriterReviewed by Ray Salmond,Staff EditorBitcoin shorts above $70K at risk since ‘90% of downside’ is already complete10 hours agoBitcoin price data suggests BTC remains undervalued and that short positions opened above $70,000 face a high risk of liquidation. Bitcoin (BTC) futures data shows that traders who opened new short positions above $70,000 over the weekend could be at risk of liquidation as a wave of leveraged positions were closed on Monday. The weekly change in Bitcoin futures market open interest fell to -2.46% on Monday, down from a 8.9% increase on March 31, suggesting a decline in leverage. Multiple long-term Bitcoin valuation metrics also si

Source: https://cointelegraph.com/news/bitcoin-shorts-above-70k-at-risk-since-90-of-downside-is-already-complete?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound