Crypto analyst gave ATH password for Bitcoin (BTC)!

The world’s largest cryptocurrency in terms of market value Bitcoin (BTC )If the price level, which it has not reached for 12 days, returns to 70 thousand dollars, it will liquidate the short positions to a large extent.

Bitcoin Crypto investors shorting may be disappointed when the price reaches $70,000. According to CoinGlass data, it shows that if Bitcoin returns to the $ 70,000 band, under which it has been trading since June 8, short situations worth $ 1.67 billion will be liquidated.

Liquidation data will be decisive for Bitcoin ATH

Bitcoin open status (OI), the total value of Bitcoin futures contracts on exchanges, has fallen by 10.99 percent to $33.55 billion since reaching its all-time high on June 7. But Bitcoin OI is 82 percent higher compared to January 1. Falling open interest can indicate a worsening trend, while increasing open interest indicates rising market interest.

In early June, Bitcoin’s OI rose to over $2 billion in just three days, leading investors to believe that steep price increases were possible.

Willy Woo, founder of on-chain data platform Woobull, stated that a major liquidation could push Bitcoin to an all-time high. “We need major liquidation for further uptrend,” Woo wrote on June 19. I know this sucks. “But BTC will not break its all-time high until it creates more problems,” he added.

These pronouncements of Willy Woo especially upset the altcoin investor. Bitcoin, which shook altcoins due to both dominance and price loss, has become a threat, especially for altcoin investors.