2024-03-06 07:23:33
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Bitcoin hit a new all-time high of $69,200 on Tuesday, March 5, 2024.
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Price tumbled to as low as $59,700 i
n a violent sell-off. •
Over $1 billion in crypto liquidations occurred, with leveraged traders being flushed out.
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Heavy selling on crypto exchanges capped the price surge, sending BTC below $60,000 at one point.
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Binance order book showed large sell orders at higher price levels.
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BTC bounced back to $62,800 after the sell-off.
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Ether (ETH) and Solana (SOL) held up better than BTC, with only a 3% decline compared to BTC’s 7% drop.
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Over $1.1 billion worth of derivatives trading positions liquidated across all digital assets in the past 24 hours.
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Major liquidation events often mark a local top or bottom for the asset’s price.
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Similar to Thanksgiving 2020 action, where BTC hit $19,500 and then fell to roughly $16,000.
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Analyst Will Clemente suggests dips are for shaking out over-leveraged traders and are buying opportunities.
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Current BTC price: $63,629.72
: https://t.me/Bitcoin_Blockchain_Trading
@Bitcoin_Blockchain_Trading
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