Sunday, July 27, 2025
  • Home
  • Cryptocurrency
  • Bitcoin
  • Blockchain
  • Market & Analysis
  • Altcoin
  • More
    • Ethereum
    • DeFi
    • XRP
    • Dogecoin
    • NFTs
    • Regulations
  • Shop
    • Bitcoin Book
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Merch
    • Bitcoin Miner
    • Bitcoin Miner Machine
    • Bitcoin Shirt
    • Bitcoin Standard
    • Bitcoin Wallet
Finance Bitcoin
Shop
No Result
View All Result
Finance Bitcoin
No Result
View All Result
Home Bitcoin

Binance Top Traders Go Short On Bitcoin At $60,000, What’s Going On?

by n70products
September 18, 2024
in Bitcoin
0
Binance Top Traders Go Short On Bitcoin At $60,000, What’s Going On?
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter



Este artículo también está disponible en español.

Crypto analyst Ali Martinez has revealed the bearish sentiment amongst Binance’s prime merchants in direction of Bitcoin. This growth means that the flagship crypto would possibly quickly expertise significant downward pressure. 

Binance Prime Merchants Are Shorting BTC

Martinez revealed in an X (previously Twitter) post that 51.41% of the highest merchants on Binance are shorting Bitcoin. This means that these merchants count on the flagship crypto to expertise a worth decline regardless of its recent recovery above $60,000. Certainly, BTC began this week with a worth correction, dropping to $58,000. 

Associated Studying

Bitcoin 1
Supply: X

This bearish outlook for Bitcoin means that the rise to $60,000 was a aid bounce reasonably than a bullish reversal. In a current evaluation, Martinez additionally revealed that the flagship crypto was nonetheless in a downtrend. He alluded to the Bitcoin market worth to realized worth (MVRV) momentum, which he claimed exhibits that the flagship crypto has been in a downtrend since breaking beneath $66,750 in June. He added that the development hasn’t shifted but. 

BTC 2
Supply: X

With Bitcoin nonetheless in a downtrend, the crypto dangers struggling additional declines. Martinez highlighted the $58,100 price level as essential, noting {that a} break beneath might result in a drop in direction of $55,000. However, he said that Bitcoin might rebound to the mid or higher ranges at $60,200 or $62,000 if it holds the decrease boundary of the parallel channel. 

Bitcoin 3
Supply: X

In the meantime, crypto analyst Jelle recently highlighted $65,000 as the worth degree Bitcoin should reclaim to get pleasure from a bullish reversal. Nevertheless, reaching that worth degree is troublesome for now, particularly with uncertainty across the imminent rate cuts and the US presidential elections. Bitcoin bulls look to be ready to see how the market reacts to the Fed’s rate of interest choice that will probably be introduced on September 18. 

Additionally it is value mentioning that September is traditionally a bearish month for Bitcoin. This isn’t anticipated to be completely different as traders look to October because the month they’ll return to the market.  

Bitcoin May Nonetheless Drop To As Low As $15,000

Renowned economist Peter Schiff has warned that Bitcoin might nonetheless drop to as little as $15,000. He highlighted what he believes to be a triple prime on Bitcoin’s chart. The professional added that the chart is worse if the flagship crypto is priced in gold. On the minimal, the economist expects BTC to drop to the upward development line at about $42,000, however he doubts it’ll maintain that assist line. 

Associated Studying

BTC 4
Supply: X

As such, he predicts that Bitcoin will retest the longer-term assist between $15,000 and $20,000. Whereas it stays to be seen whether or not that occurs, Schiff is thought to be a Bitcoin bear and has consistently advocated for Gold over the flagship crypto. 

On the time of writing, Bitcoin is buying and selling at round $58,200, down within the final 24 hours, based on data from CoinMarketCap.  

Bitcoin price chart from Tradingview.com
BTC worth above $58,000 as soon as extra | Supply: BTCUSD on Tradingview.com

Featured picture created with Dall.E, chart from Tradingview.com



Source link

Tags: BinanceBitcoinShortTopTradersWhats
  • Trending
  • Comments
  • Latest
Liquidation Alert As High-Risk Loans On Aave Reach $1 Billion – Details

Liquidation Alert As High-Risk Loans On Aave Reach $1 Billion – Details

December 19, 2024
Slumping Memecoin Pepe Could Witness Nearly 50% Collapse, Warns Crypto Trader

Slumping Memecoin Pepe Could Witness Nearly 50% Collapse, Warns Crypto Trader

December 16, 2024
Devconnect Istanbul 2023 – A celebration of progress and the Ethereum community

Devconnect Istanbul 2023 – A celebration of progress and the Ethereum community

December 16, 2024
XRP Primed for 90% Rally to $1.2, According to Top Analyst

XRP Primed for 90% Rally to $1.2, According to Top Analyst

December 16, 2024
iStock 1252711675

Peter Schiff Questions True Agenda Behind MicroStrategy’s Bitcoin Acquisition

0
Decentralized Oracle Network Chainlink Leads the Crypto Space in Terms of Recent Development Activity: Santiment

Decentralized Oracle Network Chainlink Leads the Crypto Space in Terms of Recent Development Activity: Santiment

0
Migrate and modernize enterprise integration using IBM Cloud Pak for Integration with Red Hat OpenShift Service on AWS (ROSA)

Migrate and modernize enterprise integration using IBM Cloud Pak for Integration with Red Hat OpenShift Service on AWS (ROSA)

0
A16z Crypto Lawyer Unleashes Scathing Attack On US SEC, Spot Ethereum ETF In Danger?

A16z Crypto Lawyer Unleashes Scathing Attack On US SEC, Spot Ethereum ETF In Danger?

0
Crypto Whales Are Dumping Ethereum For Cardano — What’s Behind The Shift?

Crypto Whales Are Dumping Ethereum For Cardano — What’s Behind The Shift?

July 27, 2025
Own a OnePlus phone? I changed 10 settings to significantly improve the user experience

Own a OnePlus phone? I changed 10 settings to significantly improve the user experience

July 27, 2025
GENIUS Act Spurs Shift to Payment Utility in Stablecoins

GENIUS Act Spurs Shift to Payment Utility in Stablecoins

July 27, 2025
Bitcoin prices to $111K? – THESE indicators flash warning signs

Bitcoin prices to $111K? – THESE indicators flash warning signs

July 27, 2025

Recent News

Crypto Whales Are Dumping Ethereum For Cardano — What’s Behind The Shift?

Crypto Whales Are Dumping Ethereum For Cardano — What’s Behind The Shift?

July 27, 2025
Own a OnePlus phone? I changed 10 settings to significantly improve the user experience

Own a OnePlus phone? I changed 10 settings to significantly improve the user experience

July 27, 2025

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • NFTs
  • Regulations
  • XRP

Recommended

  • Crypto Whales Are Dumping Ethereum For Cardano — What’s Behind The Shift?
  • Own a OnePlus phone? I changed 10 settings to significantly improve the user experience
  • GENIUS Act Spurs Shift to Payment Utility in Stablecoins
  • Bitcoin prices to $111K? – THESE indicators flash warning signs

© 2024 Finance Bitcoin | All Rights Reserved

No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Blockchain
  • Market & Analysis
  • Altcoin
  • More
    • Ethereum
    • DeFi
    • XRP
    • Dogecoin
    • NFTs
    • Regulations
  • Shop
    • Bitcoin Book
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Merch
    • Bitcoin Miner
    • Bitcoin Miner Machine
    • Bitcoin Shirt
    • Bitcoin Standard
    • Bitcoin Wallet

© 2024 Finance Bitcoin | All Rights Reserved

Go to mobile version