Bitcoin, Ether Target Late Shorts Amid Crypto Price Rebound

Bitcoin, Ether Target Late Shorts Amid Crypto Price Rebound
Ethereum has outperformed Bitcoin just 15% of the time since its launch

Main points:

  • Bitcoin is trying to recover into a group of short pants where market expectations turn on BTC and Altcoins.

  • ETH speculation traders are the largest short offer ever, for all data from the CME group.

  • Jackson Hall in the US Federal Reserve.

Bitcoin (BTC) returned to $ 116,000 after Wall Street opened on Monday while Bulls fought short pressure.

BTC/USD scheme for one hour. Source: CointeleGRAPH/TradingView

BTC, ETH price charts are now in danger

Data from Cointelegraph Markets Pro and Tradingvief BTC/USD, which stems from losses overnight, showed a decline to nearly $ 115,000.

The cross -sales process liquidated about $ 500 million in long positions in 24 hours at the time of writing this report, for all data from Coinglass.

Encryption qualifications (screen shot). Source: Coinglass

Traders, who have already warned of the market weakness, continued to predict the lowest fresh levels of Bitcoin and Altcoins.

“This is likely to be the worst scenario for $ BTC now. This will continue to unify between $ 112,000 to $ 120,000 in the third quarter, while Als will go above.” The last x analysis.

“We can see even a surrender of a surrender less than $ 112,000, just as we had a pump above 124 thousand dollars.”

BTC/USDT Planner for one day. Source: bitbull/x

The encryption dealer, analyst and businessman Michael Van de Bob agreed.

“If Bitcoin is not broken 116.8 thousand dollars, I assume that we will see the process of scanning its lowest levels, and this will be the moment when everyone says” the beginning of the bear market “, then buy.” summary.

BTC/USDT scheme for six hours. Source: michaël van de POPE/X

However, exchange orders books revealed that many merchants keep watching more mouse for short -term price procedures.

The ether merchants, which Barchart indicated in the financing and commercial resource supplier, indicated that the largest center is ever ever on Altcoin.

Some saw the possibility that the short pressure comes after that, with x Analytics accounts the focus On both BTC and ETH Shorts Group.

Coinglass confirmed that the main liquidation level of BTC/USD was 116,500 dollars.

BTC Filtering Map. Source: Coinglass

Jackson Hall tends to get a planned tips in the Federal Reserve

Looking at the reasons for the clouds, the QCP CAPITAL Trading Company indicated the macroeconomic factors.

Related to: Partners stop the “train”, 5 things that must be known in Bitcoin this week

She said that the annual Jackson Hall symposium for the Federal Reserve in the United States this week is a classic event to dismantle merchants, while inflation is still a hot theme.

“It seems that the side trade is likely, with declines near 112,000, attracted buyers and gatherings towards the offer of 120K for meetings, at least until Friday when the Federal Reserve Chairman Jerome Powell takes the theater,” is expected at the end. “Asia” mail.

“The higher producers’ price index numbers are expected on Thursday (producers prices jumped by 0.9 % in a month compared to 0.2 % of expectations) with the complexity of the FBI policy framework, so the market will search for hints about federal reserve thinking before meeting the Federal Reserve Policy.”

QCP added that Powell’s speech for 2024 Jackson Hall contained useful points to reduce future policy.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.

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