Bitcoin can liquidate $18B with 10% price gain as traders see $120K next
Main Idea
Bitcoin traders predict a potential price surge to $120,000, with a 10% gain possibly triggering $18B in short liquidations, while monitoring key levels like the CME gap at $116,500.
Key Points
1. Bitcoin neared $119,000 ahead of a 'decisive' weekly close, with traders eyeing new all-time highs.
2. A 10% upward move in Bitcoin's price could lead to over $18B in short liquidations, according to trader BitBull.
3. Traders are watching the CME gap at $116,500 as a potential reversal point for Bitcoin's price.
4. Ether (ETH) breaking its cycle highs has drawn attention, but Bitcoin may regain focus if it surpasses $120,000.
5. Weekend trading saw heightened liquidations, with $350M in crypto liquidations recorded in 24 hours.
Description
Bitcoin traders are getting excited over a huge short squeeze as BTC price predictions include a return to all-time highs.
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