Despite Record Selling Pressure Since 3AC Collapse, Bitcoin Holds Strong at $95,000
Bitcoin has managed to hold the $95,000 level despite facing selling pressure from traders. As sellers seem to be exhausted, there is a possibility of liquidations looming in the near future.
In recent trading sessions, Bitcoin has faced resistance around the $95,000 mark, with sellers trying to push the price down. However, buyers have managed to keep the price stable, indicating potential exhaustion among sellers.
If sellers continue to struggle to push the price lower, there is a chance that liquidations may occur. This could lead to a rapid drop in the price of Bitcoin as traders who are margin trading may be forced to sell their positions.
It’s crucial for traders to monitor the market closely and be prepared for any sudden price movements. Keeping an eye on key support and resistance levels can help traders make informed decisions and stay ahead of potential market shifts.
Overall, despite the current selling pressure, Bitcoin’s ability to hold the $95,000 level is a positive sign for bull traders. However, it’s important to remain cautious and be prepared for any volatility in the market.
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