Bitcoin's price near $60,000 faces potential liquidation, uncertainty in market sentiment

From Investing.com
August 20, 2024 08:00 am:

Bitcoin’s price may be on the verge of a major move as over $80 million worth of orders near liquidation, potentially pushing it above $60,000. The liquidation heatmap indicates a critical area around this level that could trigger a significant price surge. Mixed technical indicators suggest uncertainty but increasing trading volume.

The recent en masse liquidation at $60,000 could indicate changing investor sentiment toward Bitcoin, leading to increased engagement from bulls and bears. However, moving averages are converging slowly, hinting at potential upcoming volatility. Uncertainties remain about the role of institutional investors and the ability of BTC to reach $70,000. Relying solely on short orders liquidation for a rally may be shortsighted.

Read more at Investing.com: Massive Bitcoin (BTC) Move Coming, Here’s Why By U.Today