en.bitcoinsistemi.com
Cryptocurrency analytics platform Alphractal has released a new assessment of short-term liquidity levels for leading cryptocurrencies. The platform notes clear differences in investor behavior, particularly between Bitcoin and altcoins.
Bitcoin (BTC)
As Bitcoin surpassed the $120,000 level, open interest volume surged, triggering a significant short liquidation pool. This movement led to over $27 million in short position liquidations in the last 24 hours. Alphractal noted that many investors reached their stop-loss levels during this period.
Ethereum ($ETH)
On the Ethereum side, it's been reported that there's been a significant accumulation of long positions over the past three days. This, according to analysts, leaves $ETH vulnerable to increased long liquidation risk throughout the day. Despite this, overall positioning remains long.
$BNB
Analysis of $BNB indicated that initially, there were intense short positions, but investor sentiment gradually shifted to long positions. According to analysts:
Above $780: Short position intensity is high.
Below $740: Bulls may face pressure.
$XRP
$XRP stands out as one of the altcoins with a high short-term long accumulation. This has led to price weakness. Alphactal stated that bulls could face further losses if the price falls below $3.4.
*This is not investment advice.