With Bitcoin (BTC) price approaching its all-time high of $110,000, the choppy price action has liquidated $845 million in just two days. Spot ETF flows and institutional accumulation show investors are optimistic about BTC’s future and that an ATH retest is possible. However, a closer look at technicals suggests traders must exercise caution in the short term. BTC Price & Investors Remain Bullish Despite $845M in Liquidations The May 18 and 19 price action saw BTC price climb to $106.6k, drop to $102k, and revisit a four-month high of $107.1k. As a result of this whipsaw, the cryptocurrency market witnessed a liquidation of $845 million, according to CoinGlass data. Despite this culling, the Open Interest (OI) remained high at around 199.72k BTC. A look at the OI growth relative to Bitcoin’s price since the second quarter shows how bullish traders are. Bitcoin Price vs. Open Interest, Source: Velo Another driver… Read More at Coingape.com
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