Bitcoin (BTC) and Ethereum (ETH) Investors Beware: These Levels Are Very Critical! $4 Billion at Risk!

The trend in Bitcoin ($BTC) and altcoins continues to decline, as is the case with bitcoin (advancer), Altcoine. As the market is in a bear market and prices are expected to drop further, new data has emerged from the cryptocurrency tracking platform Coinglass.

Bitcoin’s price movements are likely to trigger major liquidation events on mainstream cryptocurrency exchanges (CEXs), according to recent data from Coinglass.

“At this point, if Bitcoin rises above $69,000, $1.41 billion worth of $BTC short positions on CEXs will be liquidated.”

Conversely, if the Bitcoin price falls below $64,000, $898 million worth of long positions will be liquidated.

According to Coinglass’s Ethereum ($ETH) data, the $1,800 and $2,100 levels are of critical importance.

“At this point, if Ethereum rises above $2,100, $1 billion worth of $ETH short positions on CEXs will be liquidated.”

Conversely, if the Ethereum price falls below $1,800, $769 million worth of long positions will be liquidated.

A total of $253 million in leveraged trading was liquidated over the last 24 hours according to current data, $179 million for long positions and $793 million short positions were also liquidized.

In the last 24 hours, 99,346 traders were liquidated, with the largest liquidation occurring in $BTC/USD trading on Bybit.

*This is not investment advice.

Thanks for reading Bitcoin (BTC) and Ethereum (ETH) Investors Beware: These Levels Are Very Critical! $4 Billion at Risk!