On the morning of July 3, the first cryptocurrency collapsed from $62,100 to $60,900. Against the background of the publication of macro data, the coin sank by 3% per day.
The 15-minute BTC/USDT chart of the Binance exchange. Data: TradingView.The market reacted negatively to the publication of information on open vacancies and staff turnover in the United States in May. The JOLTS indicator turned out to be higher than the predicted values.
Bitcoin has dragged most of the crypto assets into the "red" zone. In 24 hours, Ethereum sank by 2.4% to $3,360.
Dynamics of assets from the top 10 by capitalization. Data: CoinGecko.According to Coinglass, the total volume of liquidated positions per day amounted to $122 million. Of these, $102 million was accounted for by longs.
Liquidation card. Data: Coinglass.Ali technical analyst drew attention to the appearance of the first signs of accumulation of digital gold after almost three months of distribution.
Early signs of #Bitcoin accumulation emerge after nearly three months of $BTC distribution! pic.twitter.com/QdbNHJgWHN
— Ali (@ali_charts) July 2, 2024He also pointed to the largest spike in active addresses (894,980) since the beginning of April.
#Bitcoin recently experienced its highest spike in active addresses since early April, reaching a total of 894,980 active $BTC addresses, as shown in data from @santimentfeed! pic.twitter.com/04OoWnCG3B
— Ali (@ali_charts) July 2, 2024Even before the recession, Ali said there was a large liquidation pool of $23 million at $61,490. After failing this mark, he allowed a rebound.
There’s a $23 million liquidation pool at $61,490 that #Bitcoin $BTC might target before rebounding! pic.twitter.com/CeUqibBz6J
— Ali (@ali_charts) July 2, 2024According to him, if bitcoin exceeds $62,600 now, short positions worth $1 billion will be eliminated.
Over $1 billion will be liquidated if #Bitcoin now rebounds to $62,600! pic.twitter.com/6gBiTTkPiH
— Ali (@ali_charts) July 3, 2024Analyst and founder of MN Trading Michael van de Poppe announced a "mega bearish divergence" on the chart of the dominance of the first cryptocurrency, which implies an imminent reversal after breaking through the level of 0.06 ETH/BTC.
Mega bearish divergence on the #Bitcoin dominance chart implying that we're seeing a reversal.
Key level to break: 0.06 ETH/BTC needs to break. pic.twitter.com/xlejEVTXF0
Earlier, Bitfinex reported that the hodlers of digital gold, who stopped profit-taking in early May, resumed the sale.
Recall that CoinDesk analysts noted the $65,000 level as a key resistance level.
CryptoQuant predicted the emergence of prerequisites for the resumption of the rally in the third quarter.