According to data from Coinglass, the slight recovery of the crypto industry in the last 24 hours has liquidated $212 million from the market. Meanwhile, a Bitcoin whale announced that he is optimistic for the biggest cryptocurrency. Here are the details…
Millions of dollars liquidation in bitcoin and altcoins
As we reported as Kriptokoin.com, currently the crypto market has reported a gain of 2.85%. Because the value of flagship crypto assets such as Bitcoin (BTC) and Ethereum (ETH) rose above $ 23,000 and $ 1,600, respectively. BTC contributed $80.70 million in liquidations, while Ethereum contributed $48.81 million. Recording one of the biggest rises, Aptos (APT) liquidated $31.61 million in short positions opened against it.
During this period, the market recovery liquidated 50,517 traders – the most significant liquidation was a $3.85 million position in BTC. Meanwhile, blockchain analytics firm Santiment pointed out a few altcoins that rose during the reporting period. “Social gains and FOMO could cause a peak or traders let the rallies continue,” Santiment said.
BTC whale optimistic for price
Meanwhile, a widely followed crypto strategist is optimistic that Bitcoin (BTC) could rise by as much as double-digit percentage points from the current price. Kaleo, known to be a BTC whale, told his 558,300 Twitter followers that Bitcoin will quickly rally to $30,000 after breaking through the bearish trend that started in late November. According to its four-hour chart, the analyst suggests that the crypto could rise above the $30,000 resistance level in February.
According to Kaleo, Bitcoin will outperform Ethereum (ETH) as the flagship crypto asset targets the $30,000 price level. When Ethereum is paired with Bitcoin, Kaleo’s charts show that ETH will drop by just over 30 percent to below 0.0510 BTC. This level was last recorded in mid-2022. He stated that the ETH/BTC pair “touched the higher timeframe support” and then bounced back.
The widely followed crypto analyst also says that Bitcoin will outperform altcoins as the dominance level of the largest crypto-asset in terms of market cap. The analyst pointed to the fact that the most popular altcoins are slowly rising against the US dollar. However, he stated that this is not a good thing, as the altcoins in question are experiencing a decline in the BTC pair. He also underlined that he does not see any signs that this trend will end anytime soon.
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