Bitcoin (BTC) Resilience Amid Liquidation Dip: Maintains $60K Stand – Future Predictions

• Bitcoin’s liquidation has been below $50 million over the past 48 hours.
• The cryptocurrency has managed to hold the $60,000 price range despite recent market fluctuations.
• Bitcoin holders who were initially underwater have seen a little relief as the 30-day MVRV climbs above zero.

Bitcoin’s liquidation volume has seen a significant decrease over the past 48 hours, while the cryptocurrency has managed to maintain the $60,000 price range. This comes as a relief to Bitcoin holders who were initially underwater, as the 30-day MVRV climbs above zero.

Bitcoin Liquidation Declines

Over the past week, Bitcoin’s price slipped below the $60,000 threshold, resulting in a surge of both short and long liquidations. However, a recent equilibrium between price movement and liquidations suggests a stabilization in the market. An analysis of the Bitcoin liquidation chart on Coinglass revealed a surge in liquidation on the 30th of April and the 1st of May, with the liquidation volume surpassing $136 million. However, as the price of BTC rebounded and reclaimed the $60,000 price range, the liquidation volume began to decline.

Bitcoin Maintains Trend Above $60,000

Following its declines on the 30th of April and the 1st of May, Bitcoin’s price trend on the daily timeframe chart indicated a notable rebound. Consecutive uptrends beginning on the 2nd of May, with a notable ... Read the full article for FREE at COINOTAG!