Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ALTCOIN NEWS»What will it take for Bitcoin to move to $70,000?
ALTCOIN NEWS

What will it take for Bitcoin to move to $70,000?

By Crypto FlexsMarch 7, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
What will it take for Bitcoin to move to ,000?
Share
Facebook Twitter LinkedIn Pinterest Email

  • Despite price volatility, Bitcoin is seeing a surge in trading volume thanks to ETFs.
  • Both long and short liquidations can trigger large movements in price in the future.

Despite the massive fluctuations in Bitcoin (BTC) price, overall interest in BTC has remained high. BTC’s surge in liquidity demonstrated growing interest in the currency.

Looking at the current status of ETFs

According to recent data, approximately $1 billion worth of Bitcoin ETF trading volume has been seen each week since its launch, totaling $8.11 billion.

Bitcoin experienced a 15% peak-to-trough retracement this week, marking its second biggest decline since the ETF was launched.

The initial drawdown that occurred when the ETF was launched was 20%. The recent decline presents an opportunity for large outflows from ETFs, especially after significant gains since January 11, triggering strategic moves to de-risk and capture profits.

The five ETFs with the lowest inflows, totaling $660 million, appear to be relatively unimportant in terms of tracking.

Notably, GBTC was at a 50% discount at one point, indicating that investors holding it may not be overly concerned about a 20% decline.

Despite seeing $10 billion in outflows, the decline appears shallower and ETFs have revolutionized the landscape with the most successful launch in history.

With declines of more than 30% expected based on past cycles, ATH before the recent halving is challenging the norm. The evolving dynamics in the changing buyer profile are evident, especially with no outflows and increased inflows over the last two days.

Moreover, the market environment is undergoing significant changes as the Bitcoin supply has been halved in less than 50 days.

Source: Sand Analysis

At press time, Bitcoin was trading at $66,719.75, down slightly 0.42% over the past 24 hours.

About $2.2 billion worth of long positions will be liquidated if the price falls to $63,200, while short positions worth about $2.4 billion will be liquidated if BTC surges to $70,000.

If the price falls to trigger a long liquidation, selling pressure may intensify and lead to further downward momentum as traders liquidate their positions.


Read Bitcoin (BTC) Price Prediction for 2024-25


Conversely, if the price rises to $70,000 and a selling liquidation occurs, a selling squeeze may occur, causing a sharp upward movement as traders rush to cover their positions.

These liquidation levels act as critical points in the market, potentially amplifying price volatility and contributing to rapid and substantial price movements.

Next: Ethereum: Are Traders Making Big Investments in ETH? The data…

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SEI tokens have soared more than 100% in June -the highest catalyst explained.

June 26, 2025

$ 438m XRP Transfer Sparks Panic- Ripple?

June 19, 2025

Solana Price Eyes 103% Rally $ 300: Here is the reason.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Join Earn Mining To Mine Easily And Earn $7752 A Day

June 26, 2025

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Weed® Announces Partnership With Khalifa Kush; Launches Global Commercialization

June 26, 2025

GBM Launches Auction Festival With The Sandbox, Aavegotchi, Unstoppable Domains, And More

June 26, 2025

French “Spiderman” Scales Skyscraper To Launch World’s First Action Token

June 26, 2025

Deribit And SignalPlus Launch “The Summer Chase” Trading Competition 2025 Featuring A $300,000+ USDC Prize Pool

June 26, 2025

Why I am still optimistic despite noise

June 26, 2025

SEI tokens have soared more than 100% in June -the highest catalyst explained.

June 26, 2025

Reddio Mainnet Alpha Is Live – The First GPU-Accelerated Parallel EVM For AI-Native DApps

June 26, 2025

RoboCorp.co Debuts World’s First Search Engine That Converts Human Data And Expertise Into Crypto Income

June 26, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Join Earn Mining To Mine Easily And Earn $7752 A Day

June 26, 2025

Bitcoin prices return to green -building exercise for more profits

June 26, 2025
Most Popular

Coinbase is planning acquisitions to expand its derivatives offerings in the EU.

January 6, 2024

Army of Fortune surpassed 25,000 daily active users in record time, ushering in a new era for gaming.

November 25, 2023

Animoca Brands’ GEN3 Playground Event Attracts Over 1,000 Web3 Enthusiasts

November 6, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.