Over 80,000 Traders Faces Liquidation<\/h2>\n
The data<\/a> provided by Coinglass sheds light on the magnitude of the liquidations, revealing that approximately 86,047 traders suffered losses exceeding $250 million within a mere 24-hour period.<\/p>\n Major exchanges like Binance, OKX, Bybit, and Huobi were the arenas for these significant financial setbacks, with Binance traders bearing the brunt of the liquidations.<\/p>\n Particularly, Binance recorded $128.7 million in liquidations<\/a>, while other major platforms such as OKX, Bybit, and Huobi also experienced significant liquidations, amounting to $99.87 million, $33.18 million, and $17.70 million, respectively. Meanwhile, despite also facing liquidations, the smaller exchanges had a comparatively minor impact.<\/p>\n Most affected positions were short trades, reflecting a widespread anticipation of a market downturn that did not materialize as expected. Short positions recorded an estimated 57.55% of the liquidations, equivalent to $164.10 million, from traders betting against the market.<\/p>\n On the flip side, long position holders also faced their share of losses, contributing to nearly 40% of the total liquidations, amounting to $121.07 million.\u00a0<\/span><\/p>\n The sharp recovery of Bitcoin, momentarily reclaiming highs above $67,000, has reignited interest in its market behavior<\/a> and future trajectory.<\/p>\n Despite a 6.6% dip in its market capitalization over the past week, Bitcoin’s value saw a notable 6% increase in the last 24 hours, with its market cap presently sitting above $140 billion. This resurgence in trading activity, with daily volumes climbing from below $60 billion to heights above this mark, signifies renewed investor confidence and heightened trading interest<\/a>.<\/p>\n Adding to the discourse, cryptocurrency analyst Willy Woo presents an optimistic outlook for Bitcoin, suggesting the possibility of a “double pump” cycle<\/a> reminiscent of the market patterns observed in 2013.<\/p>\n According to Woo, this pattern could herald two significant price surges for Bitcoin in the coming years, with the first peak anticipated by mid-2024 and a subsequent, more substantial rise in 2025.<\/p>\n While such dual surge scenarios are rare, Woo’s analysis, based on current market conditions and Bitcoin’s growth potential, offers a glimpse into the future of the world’s leading cryptocurrency.<\/p>\n At the rate the #Bitcoin<\/a> Macro Index is pumping, I wouldn’t be surprised if we get a top by mid-2024, which would hint at a double pump cycle like 2013… a second top in 2025. pic.twitter.com\/i2a0V5ytPv<\/a><\/p>\n![\"Crypto](\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Screenshot-2024-03-21-at-17.15.21.png?w=860&resize=860%2C480\")
Bitcoin Recovery And Future Prospects<\/h2>\n
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