$BTC is stuck between 2 liquidity clusters right now.
On the upside, there's a huge liquidity cluster between $67,700-$68,500 level.
On the downside, the liquidity cluster is sitting around the $65,800 level.
Where do you think Bitcoin will move first?
Life is a river, sometimes calm, sometimes rushing. Instead of worrying, learn to go with the flow, letting your heart breathe freely with the currents.
BITCOIN’S $60K LEVEL SEEN AS LIQUIDATION TRIGGER
Bitcoin faces a key test at $60,000, with options and loans suggesting a breach could spark forced selling and sharp volatility.
Deribit data shows the largest cluster of put options pays off below $60K, near the 200-week moving average at $58K — a crucial technical support. Loans tied to Bitcoin would automatically liquidate collateral if prices dip, potentially triggering a cascade of deleveraging.
Bitcoin traded around $67,000 on Friday, down ~47% from its October peak. Analysts warn a break below $60K could push it toward $50K, where the second-highest put open interest lies. Open interest in $60K puts totals $1.24B.
Market sentiment is heavily bearish. Experts say a sustained drop below $60K/$58K could fuel another 20% correction, while any relief rallies remain fragile.