The cryptocurrency markets are currently experiencing a significant increase in liquidations as Bitcoin (BTC) takes a sudden nosedive to a new low for 2025, dropping below $90,000 for the first time this year.
Recent data from market intelligence platform Coinglass indicates that traders have faced liquidations amounting to $716.05 million in the last 24 hours, primarily from those who were betting long on Bitcoin and Ethereum (ETH).
Bitcoin plummeted to a low of around $89,800 on Monday before rebounding back to the $90,000 range. As of the time of writing, Bitcoin is trading at $91,701, marking a 3.5% decrease in the past 24 hours. On the other hand, ETH is trading at $3,019, reflecting an 8.1% decline in the last 24 hours.
Various prominent analysts have shared their insights on Bitcoin following this sudden market dip. Crypto analyst and trader Michaël van de Poppe has expressed a bullish sentiment on Bitcoin if it manages to maintain $92,000 as support on the daily chart. He emphasized the importance of this level and suggested that a failure to hold above $92,000 could lead to a potential retest of $85,000.
Glassnode and Swissblock co-founders Jan Happel and Yann Alleman, known as Negentropic, are closely monitoring their Bitcoin Risk Signal metric, which has seen a notable uptick recently. This metric utilizes price data and on-chain data to assess the likelihood of a downside price movement. They caution that while Bitcoin is currently within a range of $92,000-$100,000, emerging negative signals indicate potential volatility ahead.
Additionally, pseudonymous analyst The Flow Horse remains bullish on Bitcoin, emphasizing short-term trading strategies based on price levels. He maintains a bullish stance above $90,000 and adopts a bearish outlook below this level.
As the cryptocurrency market continues to exhibit volatility, it is essential for traders and investors to stay informed and monitor key indicators to make informed decisions. Stay updated with the latest developments by subscribing to receive email alerts and following reputable sources on social media platforms like Twitter, Facebook, and Telegram.
Image credits: DALLE3
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