The encryption market has recently suffered a liquidation wave, for a total of almost $ 300 million, after the marked recovery of Bitcoin of $ 67,000.
This increase in the value of Bitcoin, a strong investment of its previous low trend, took many merchants by surprise, especially those who bet on the continuation of the market decrease.
More than 80,000 merchants face the liquidation
The data provided by Coinglass shed light on the magnitude of the settlements, revealing that approximately 86,047 merchants suffered losses of more than $ 250 million in a mere 24 -hour period.
The great exchanges such as Binance, OKX, Bybit and Huobi were the sands for these important financial setbacks, with binance merchants with the weight of the agreements.
Particularly Binance registered US $ 128.7 million in settlements, while other important platforms, such as OKX, Bybit and Huobi, also experienced significant settlements, for a total of US $ 99.87 million, $ 33.18 million and $ 17, 70 million, respectively. Meanwhile, although they also face settlements, smaller exchanges had a relatively lower impact.
Most of the affected positions were short businesses, which reflects a generalized anticipation of a market deceleration that did not materialize as expected. Short positions registered around 57.55% of the agreements, equivalent to US $ 164.10 million, of the merchants who bet against the market.
On the other hand, the holders of the long position also faced their portion of losses, which contributed to almost 40% of the total agreement, for a total of US $ 121.07 million.
Bitcoin recovery and future perspectives
The marked recovery of Bitcoin, momentarily recovering the UPS of more than $ 67,000, revived interest in their market behavior and future trajectory.
Despite a 6.6% drop in its market capitalization last week, the Bitcoin value saw a notable 6% increase in the last 24 hours, with its market value currently exceeding $ 140 billion. This resurgence of commercial activity, with daily volumes that rise below $ 60 billion for heights above this brand, means a renewed confidence for the increase in investors and commercial interest.
In addition to the speech, the cryptocurrency analyst Willy Woo presents an optimistic perspective for Bitcoin, suggesting the possibility of a remaining cycle of “double bomb” of market patterns observed in 2013.
According to Woo, this standard could announce two significant prices for Bitcoin in the coming years, with the first early peak in mid -2024 and a subsequent and more substantial increase in 2025.