Bitcoin (BTC) Rebounded At $52,000 – Analysts Warns On Possible $1 Billion Liquidation

After a slow movement last week, Bitcoin (BTC) was able to bounce back after reaching $52,000 today, February 23. However as Bitcoin approaches above the $52,000 level, crypto analysts is seeing a possible massive liquidation.

Prominent crypto analyst CrpytoRover, shared a snip of the Bitcoin Liquidation Heatmap warning the traders on a possible short liquidations of more than $1 billion if Bitcoin (BTC) reaches the $52,200 level. He explained that liquidations could trigger an increased buying pressure as short traders will try to cover their positions by buying back BTCs.

Moreover, the unprecedented demand could push the Bitcoin price further. In fact, BTC price could peak between $54,000 to $58,000. This figures aligns with crypto analyst Michaël van de Poppe’s prediction, but it could also lead to a massive correction.

Poppe also foresee a major pullback in the BTC price after the Bitcoin Halving event. He explained that the correction could push the BTC price down to $40,000. 

Meanwhile, another crypto analyst also see a possible massive liquidation of over $76 million if the BTC price hits $52,250. In this case, investors should consider these warnings.

Bitcoin (BTC) reaching the $52,000 threshold shows a 23% increase in its price for the first time since December 2021. Matrixport’s research also reveals that a substantial part of this increase particularly the 12% of it has occurred during US market hours, indicating more trading activity in the US region. 

In the last month, Bitcoin has increased by over 24%, with Bitcoin ETFs inflows reaching a high of 25,300 BTC and counting. And since Bitcoin has been on an upward trend since early February, the bulls were able to sustain the momentum before entountering rejection at $53,000 last week. 

ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

Related Articles

Bitcoin Still Bullish; How High Will It Go?

7 hours ago

Save

Bitcoin Treasury Firms Strategize for Entry into $200 Trillion Market as Hyperbitcoinization Advances, According to Adam Back

9 hours ago

Save

​Ethereum's EIP-9698: Aiming for a 100x Gas Limit Increase​

9 hours ago

Save

Comments

0 0 votes

Article Rating

Subscribe

Login

Notify of

new follow-up commentsnew replies to my comments

Please login to comment

0 Comments

Oldest

Newest Most Voted

Inline Feedbacks

View all comments