Crypto Rover (@rovercrc), a recognized voice in the cryptocurrency community, raised a warning flag for investors today. In a tweet, they highlighted a significant risk emerging in the market: if the price of Bitcoin drops to $42,800, it could trigger the liquidation of long positions worth around $400 million. This warning comes as Bitcoin experiences a bullish week, with its price at $43,801 at the time of writing. This reflects an increase of 11.05% over the past seven days and a slight increase of 0.03% since Saturday.
The warning highlights the fragile state of Bitcoin’s current support level and the potential impact of market fluctuations on investor positions. Data from CoinGlass recently showed that $13.21 million in long positions were liquidated, which serves as a stark reminder of the volatility of the cryptocurrency market.
Investors are currently on high alert, closely monitoring Bitcoin’s price movements. The possibility of such a significant liquidation event has put added pressure on traders to remain vigilant and well-informed as they navigate potential pullbacks in an already crowded market. unpredictable.
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