Bitcoin Price Surge has been intensified in recent days as the leading Cryptocurrency, currently it is about $ 99,816.94, such as Coinmarketcap Reveals, just a few dollars from the big milestone of $ 100,000 that everyone has talked about. This Bitcoin Price over voltage triggered a fairly massive $ 215 million -liquidation of short positions just in the last 24 hours alone.
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Bitcoin Price Surge and important market risks before $ 100K Breakout
Market Liquidations affect $ 298 million
Technical strength signals additional gains
Right now, Bitcoin is far above all three large moving averages (50, 100 and 200 EMA). RSI floats around 70 right now, which can cause some short-term volatility but has not really signaled fatigue yet in this Bitcoin market outbreak that we see.
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Bitcoin -dominance exceeds 60%
In fact, Bitcoin’s market dominance has exceeded 60% at this time, which shows that investment capital mainly flows into Bitcoin rather than altcoins during this intensive Bitcoin price transition. This type of dominance growth usually strengthens Bitcoin’s control over the broader market story, which we have seen many times before.
Bitcoin $ 100K Breakout: Critical Resistance Level
At almost $ 100,000, Bitcoin is approaching what many consider to be a crucial resistance zone. With the correct volume confirmation, the next realistic targets are probably between $ 105,000 and $ 110,000. However, the current long/short imbalance can also trigger a decrease against $ 92,000- $ 94,000 if rejected at this large psychological level.
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What is next for bitcoin?
The upcoming commercial sessions will quite determine whether Bitcoin sets a new price paradigm over $ 100,000 or breaks for a correction considering Spike in crypto -market voltility and all the extensive liquidations that have cleared survived positions from the market.