Bitcoin (BTC), which fell below $90,000 over the weekend, started the critical Fed week with a recovery.
While Bitcoin is recovering slightly and climbing above the $91,000 level, major altcoins including Ethereum (ETH) are also showing gains.
Ethereum is back above $3,100, while XRP and Solana (SOL) are up 2.6% and 2.2%, respectively, in the last 24 hours.
While it is stated that whether the rise in Bitcoin and altcoins will continue depends on the FED decision and the statements of FED chairman Jerome Powell, the latest data came from the cryptocurrency tracking platform Coinglass.
Bitcoin’s price movements are poised to trigger significant liquidation events on mainstream cryptocurrency exchanges (CEX), according to the latest data from Coinglass.
“At this point, if Bitcoin rises above $93,000, $721 million worth of BTC short positions on CEXs will be liquidated.
Conversely, if the Bitcoin price falls below $90,000, $340 million worth of long positions will be liquidated.”
According to current data, $450 million worth of leveraged transactions were liquid in the last 24 hours, while $293.2 million worth of long positions and $157.5 million worth of short positions were liquid.
While 130,468 traders were liquidated in the last 24 hours, the largest liquidation occurred in the ETH/USD transaction on Hyperliquid.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/bitcoin-btc-investors-attention-these-two-levels-are-critical-theres-a-1-billion-risk/
