Bitcoin: One Year Since $19B Liquidation Event
André Dragosch marks the one-year anniversary of crypto's largest liquidation event that erased over $19 billion in 24 hours and hit 1.6 million accounts.
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Bitcoin marks the one-year anniversary of crypto's largest liquidation event, with $19B+ erased in 24 hours including $16B in longs, 1.6 million accounts hit and roughly 87 percent long positions according to André Dragosch.
The flush cleared excess leverage and left a cleaner base for the next advance.
Bitcoin trades at $82668.94 below the 50-EMA resistance at $83733.44 in a bearish structure while the 200-EMA at $82219.93 offers nearby support. The MACD golden cross at -550.1 hints at building momentum even as RSI at 43.69 stays neutral. Price remains inside the Bollinger bands with upper resistance at $84398.96 and lower support at $81249.76, suggesting any push toward the upper band could meet selling before a deeper test of the 200-EMA.
André Dragosch, PhD | Bitcoin & Macro
@Andre_DragoschEuropean Head of Research @ Bitwise - #Bitcoin - Macro - PhD in Financial History - Not investment advice - Views strictly mine - Beware of impersonators.