Bitcoin: $3100 Reversal Liquidates $278M Longs
Bitcoin drops $3100 after $2700 rally, wiping $278M longs post-weak unemployment data while $216M shorts liquidated earlier.
SourceAnalysis
Bitcoin climbed from $84,500 to $87,200 in 15 hours, clearing $216 million in shorts before the reversal hit one hour after weaker unemployment data.
The subsequent $3,100 drop erased $278 million in longs over five hours.
Price action on the 4h chart shows BTC at $84,298.39 sitting just above EMA50 support at $84,013.38 with EMA200 far below at $80,426.63, while MACD golden cross at 332.78 keeps the bullish structure intact yet RSI at 49.16 leaves room for further testing of lower Bollinger support at $82,455.93 before any continuation toward upper band resistance at $86,129.95.
Bull Theory
@BullTheoryioResearch, Trades, onchain plays and all other crypto stuff simplified.Publishes institutional-grade cryptocurrency research and blockchain market intelligence. Delivers in-depth analysis of on-chain metrics, tokenomics, and decentralized finance (DeFi) ecosystems. Features proprietary data models, investment thesis breakdowns, and macro-level crypto trend forecasts. Provides strategic insights for sophisticated investors navigating digital asset markets. Maintains rigorous methodology in fundamental and technical analysis across crypto assets.
Premium Sponsors
.jpg)