Bitunix analysts have highlighted the latest data on cryptography settlements near the support zone of $ 108,000, warning that more liquidations could follow if Bitcoin breaks below this level.
Bitcoin (BTC) The recent volatility has created a remarkable liquidation pocket, said Crypto Exchange Bitunix analysts Crypto.news. On Tuesday, May 27, the total cryptographic liquidations reached $ 211 million, with a clear bias towards long positions. Specifically, $ 131 million were settled in lengths, compared to $ 79.84 million in short positions.
Bitunix analysts interpret this imbalance as evidence of a long -term elimination elimination during the recent Bitcoin sauce at $ 108,000. As a result, they warn against the entry of long -aggressive positions, while BTC quotes near this key support.
“Short -term attention should be paid to the effect of the support at $ 108,500– $ 109,000, and it is not recommended to pursue more.
Bitcoin’s price suggests short -term caution: Bitunix
According to Bitunix, the liquidation heat map reveals a concentrated group of liquidations around the level of $ 108,000, indicating that this area can serve as a key liquidity support area, where buyers tend to intervene.
However, Bitunix analysts still believe that merchants should be cautious. Specifically, a fall below the $ 108,000 zone could lead to more settlements, which could trigger a greater breakdown of its price.
“A fall below $ 108,000 could trigger a new round of liquidations. It is advised to merchants who exercise strict risk control since the market could weaken again if capital tickets do not resume,” Bitunix.
Despite short -term risks, there are signs that Bitcoin’s long -term perspective is strong. A May 25 report By Guillaume Girard of Utxo and Will Owens shows that Bitcoin’s institutional demand is overcoming the supply. Indeed, buyers are entering the market faster that miners can coin bitcoins, which could increase in the coming years.