Crypto markets have faced a wave of fluids in the past 24 hours, with total losses of up to $ 635.9 million, according to market data. Most exterminations (over $ 560 million) come from short positions, signing a growing pressure on bearish entrepreneurs.
Bitcoin (Btc) led the extermination charts, with $ 293 million in Short position Damaged while BTC has passed $ 94,000, marking a 6.29% gain over a day, According to in coinglass data.
Ether (Eth) followed, with more than $ 109 million in short abandonment as its price went up nearly 10% to $ 1,787.
Data from the exchanges showed Binance accounted for the largest part of the extermination of $ 18.7 million in the last four hours, with 78% of targeting short positions. Bybit and OKX also saw significant volumes of extermination, reflecting widespread volatility on the main platforms.
Related: Bitcoin destroys the downtrend with a spike towards $ 92.6k, but who’s behind the price momentum?
Trader said the Bitcoin Liquidity Building around $ 100,000 level
In the midst of market disturbance, crypto analyst Mister Crypto noted that liquidity was “stacked around $ 100,000” for Bitcoin.
In a recent -only Post In X, he warned that bears show signs of desperation, suggesting a potential short squeeze could drive BTC closer to the six figures mark.
A short squeeze occurs when a rapid rising price forces entrepreneurs to bet against the market to cover their positions, fueling the upward momentum.
Mister Crypto also shared a Binance BTC/USDT heat heat, showing that a significant amount of bitcoin trading activity and extermination orders built around $ 100,000 levels, which means many entrepreneurs have set positions that can be attributed if the price has reached that point.
Bitcoin established at a 45-day height of over $ 94,000 On April 23. The leading cryptocurrency was the trade at $ 94,236, up to more than 6% on the previous day, at the time of writing, According to in data from coinmarketcap.
Related: Bitcoin prices prepare for ‘70% to 80% ‘obtained as onchain and spot BTC ETF inflows spikes
Not everyone believes that bitcoin will hit $ 100,000 as soon as possible
However, not everyone is optimistic about an imminent Bitcoin advancing for $ 100,000.
“Bitcoin’s climb to $ 94K reflects the changed global prestige, but its path to $ 100k remains unsure,” Vincent Liu, chief investment official in Kronos Research, told Cointelegraph.
He said the outcome of the May 6 Federal Open Market Committee (FOMC) meeting, ongoing trade negotiations in India and China, and greater macro conditions would be critical. He added:
“Clear tariffs and potential cuts in the Fed rate may ignite additional momentum, while increases rates or unsolved tensions may maintain BTC incidence.
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