BTC - Bitcoin Ethereum Dogecoin Remain Choppy Analyst Forecasts 2X-10X Increase For King Crypto This Bull Cycle | Benzinga
Leading cryptocurrencies traded mostly flat on Monday, as efforts by bulls for an upside breakout stalled yet again.
What Happened: Bitcoin hit $70,000 during trading hours but faced rejection soon after, dipping to the $69,500 zone. Similarly, Ethereum broke $3,700 briefly, only to relegate to $3,660.
In the last 24 hours, 51,865 traders were liquidated, with the total liquidations coming in at $95 million. Long liquidations accounted for 78% of the total.
Observations from Bitcoin's liquidation heatmap showed significant leverage concentrations around $70,826 and $70,320, suggesting a high number of potential liquidations at these levels.
The number of traders opening long positions for Bitcoin surged sharply in the last 24 hours when compared to those shorting the asset, reflecting optimism about the price rise.
This was also apparent in the strengthening "Greed" sentiment on the Cryptocurrency Fear & Greed Index, paving the way for a potential increase in buying pressure.
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