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#BTC Breaks $100K Again, What's Next?#
According to crypto analyst Captain Faibik
Bitcoin has finally claimed $102K for the first time since December 18th.
Over $131 million worth of BTC shorts have been wiped off in 24 hours.
The rally is possibly a result of Donald Trump taking over the White House on Jan 20th.
Market data shows a monumental $131.71M in BTC short positions liquidated over 24 hours, compared to $67M in long positions. In the past 12 hours alone, $129.26 million was liquidated, with $38.13 million in longs and $91.13 million in shorts.
Moreover, the Bitcoin exchange liquidation heat map shown below confirms that if Bitcoin soars above $106K, a substantial $1.01 billion in BTC shorts will be wiped off, further pushing the price of the market leader higher. On the other hand, if Bitcoin loses $100K, a massive $1.35 billion in BTC longs will be erased, while if the cryptocurrency drops to $96,000, a monumental $4.10 billion will be wiped off.