Bitcoin (BTC), the world’s oldest and largest cryptocurrency, has been undergoing a massive price correction recently. The bearish turn came shortly after the 11 Spot Bitcoin ETFs went live. Initially, the BTC price propelled up to $49,000, however, it eventually plummeted below the $43,000 level.
In the midst of uncertainties around Bitcoin’s price, a crypto analyst expects a further decline. In addition, he warned against a major liquidation of long positions that would take place after the BTC price falls below $42,000.
Massive Bitcoin Long Liquidation Is Impending
Crypto Rover, a renowned crypto analyst on social media, took to X and shared a snapshot of the Bitcoin Liquidation Heatmap. In addition, he noted that long positions worth $250 million would be liquidated after Bitcoin price drops to $41,900. The major selloff could push the crypto’s value even lower.
Earlier, Kripto Kurdu Global, an analyst on X, predicted a higher liquidation level. When Bitcoin was trading betwe
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