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Bitcoin dips to Bull Market Support Band, liquidates over $230 million in leveraged positions

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Bitcoin (BTC) price is trading with a bearish bias, recording a steady streak of lower highs as part of a vertical chop.

Bitcoin price crashes over 6% on Wednesday, slipping past pool of liquidity between $60,600 and $59,005. Over $230 million worth of crypto positions have been liquidated, comprising $189 million in longs and over $40 million in short positions. Volatility levels are high in BTC and crypto ahead of

meeting, which could turn markets. Bitcoin price is trading with a bearish bias, recording a steady streak of lower highs as part of a vertical chop. The dump comes ahead of the Federal Open Market Committee decision with markets recording surging volatility.

today at 20:00. Will be Important! I will report on the later today! Chill!!… https://t.co/8jOaxchJe3 pic.twitter.com/MujMCuDOO7 — Seth May 1, 2024 As reported in a previous article, only a candlestick close above $72,000 would suggest Bitcoin price is out of the woods. This would set the tone for a reclaiming of the $73,777 peak of March 14, with the potential to establish a new all-time high above it.

 

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