So basically #BTC dumped from $69k to $42k
As a result of the collapse of bitcoin to 42,000, liquidations of ~ $ 2.4 billion were recorded. In total, the positions of more than 380 thousand traders were taken out. This is not a record yet, of course, but in history, such powerful plums often led to a rapid reversal.
– Funding rate is totally negative.
– BTC took support on 50 Day Moving Avg.
– 2.5 billion Long liquidations.
– Most of the leverage positions are out.
It means it is time for bounce !