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Cryptocurrency analytics firm Alphractal reported in its latest analysis that large-scale investors, known as whales, have resumed shorting Bitcoin (BTC) as the price approaches $65,000.
According to the firm’s Whale Position Sentiment indicator, this shift marks a significant moment in market dynamics as whales continue to exert a strong influence on price action.
Whale Position Sentiment is an indicator that tracks leveraged whale positions across multiple exchanges. A decrease in the metric indicates an increase in short positions, while an increase indicates a trend toward long positions. Given the strong correlation between whale activity and market movements, these shifts are often indicative of broader trends for cryptocurrencies.
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Alphractal notes that Bitcoin needs to stay above its Short-Term Conservative Realized Price of $62,200 to avoid bearish signals. A drop below this critical threshold could signal renewed bearish momentum in the market.
According to the analyst firm, recent data also points to a large-scale liquidation of short positions as BTC surpasses $65,000. Despite the increase, a significant liquidation pool still appears in the short-term at $57,000. Over the past 90 days, there have been unliquidated positions in the $67,000 and $71,000 areas, while a much larger liquidation pool is found below $40,000 when analyzed on a one-year basis.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/analytics-firm-reveals-critical-level-bitcoin-needs-to-hold-for-bullish-sentiment-to-continue/" rel="noopener noreferrer nofollow">Analytics Firm Reveals Critical Level Bitcoin Needs to Hold For Bullish Sentiment to Continue</a>

Analytics Firm Reveals Critical Level Bitcoin Needs to Hold For Bullish Sentiment to Continue

Bitcoin Sistemi EN

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