Key Points
- Bitcoin’s price has seen a significant increase in the last three days, triggering a volume of short liquidations.
- The percentage of BTC supply in profit has risen to over 97%.
Bitcoin’s value has seen a considerable surge over the past few days. In the last three days alone, it has increased by over 5%.
This significant price rise has coincided with an increase in short liquidations and a continued rise in the percentage of Bitcoin (BTC) supply in profit.
Bitcoin’s Price Trend
Bitcoin’s price rise has brought it closer to its all-time high of over $73,000. The current trend indicates that Bitcoin’s support lies around the $65,000 and $62,000 price zone, with resistance at around $71,000.
If the current price trend continues to break the resistance, it may indicate a new price peak.
Short Liquidations and Profitable Positions
The price surge has led to a significant volume of short liquidations. At the time of writing, the short liquidation volume was over $40 million, marking the highest in the last four days.
On the other hand, nearly 1 million Bitcoins have transitioned into a profitable position from the 3rd of April to the present. The percentage of BTC supply in profit has increased from around 93% to over 97%.
This indicates a positive trend for Bitcoin holders, as the majority of the supply is currently in profit.
