It has been a bloodbath on Wall Street on Tuesday, with top US indices like the S&P 500 correcting more than 2%. The Bitcoin price is also facing strong correction dropping another 4.5% and moving to $56,500 levels leading to a surge in the BTC long liquidations.
Bitcoin Liquidations Surge With Chances of 75% Crash
In correlation with the S&P 500, the BTC price has been facing strong selling pressure with Bitcoin long liquidations on the rise in the last 24 hours. Citing data from Coinglass, popular crypto analyst Ali Martinez noted that $246.64 million in liquidation leverage is likely to get wiped out if the BTC price drops under $56,840 levels. As of press time, BTC is already trading under those levels.
$246.64 million will be liquidated if #Bitcoin drops to $56,840! pic.twitter.com/Z0tRcZEDAU
— Ali (@ali_charts) September 3, 2024
Additionally, Ali Martinez has also issued a cautionary observation on the current BTC price trajectory. The analyst pointed out the Stochasti
We współpracy z: https://coingape.com/bitcoin-liquidations-surge-with-sp-500-fall-75-crash-likely/
