BTC Long Liquidations Could Reach $922M Below $61,035

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

BTC+1.403%

AXL+3.394%

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Liquidation Risk Threshold: If Bitcoin falls below $61,035, long liquidations on major centralized exchanges could reach $922 million, a figure derived from the current single downside scenario, indicating significant market focus on this price level.
Data-Driven Analysis: According to Coinglass's Liquidation Map, while no confirmed liquidations have occurred, the map provides a conditional trigger point, suggesting that $61,035 is a critical price zone to monitor closely.
Focus on Derivatives Market: The article emphasizes derivatives risk without extending into spot prices or other market activities, highlighting the current market's caution regarding potential price volatility and the importance of liquidation risks.
Source Limitations: The reliance on Coinglass's Liquidation Map and max pain page restricts the article from providing broader market dynamics or historical comparisons, limiting a comprehensive analysis of Bitcoin's future price trajectory.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	57094.243	59683.156	62114.323	64703.236	67134.403	69723.316	72154.483
Fibonacci	59683.156	61600.827	62785.566	64703.236	66620.907	67805.646	69723.316

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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