Bitcoin Liquidation Alert: $385 Million at Risk as $60K Support Level Nears

• Coinglass data shows traders risk $385M liquidation if Bitcoin falls below $60K.
• Analysts debate whether recent price dips are seasonal or a sign of deeper issues.
• Despite fears, the Crypto Fear and Greed Index remains in “Greed” territory, signaling investor optimism.

Bitcoin traders are on edge as data reveals a potential $385 million liquidation if the price falls to $60,000. With Bitcoin’s value trending downward and volatility increasing, the crypto market remains on edge.

The graph shared by Coinglass shows a large number of long positions at the $60,000 price level, indicating that a significant number of traders could face liquidation if the price falls below this level. This could spiral into a further price correction for Bitcoin, as these traders would be forced to sell their positions.

Source: Coinglass

Echoing a similar sentiment, Roman Trading predicted a fall in the price of BTC below $60,000 in the next few days. He attributes his reasoning to a lack of strength in the uptrend and the need for a pullback. If the prediction is proven true, it could trigger a cascade of liquidations of $385 million in long orders on mainstream cryptocurren…

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