Ah, the traders! How they flutter about like moths drawn to the flame of Bitcoin‘s ephemeral allure, only to find themselves scorched in the blaze of financial folly. In a truly baleful twist of fate, it appears that $704 million of their leveraged dreams have been liquidated-oh, what a delightful spectacle!
According to our esteemed oracle of market data, CoinGlass, it was primarily those optimistic souls who dared to indulge in long positions who found themselves ensnared in a web of despair, with $556 million evaporating into thin air before their very eyes. Meanwhile, a modest $157 million from the shorts also succumbed to this tragic ballet.
Leading this catastrophic waltz were the Ethereum longs, who pirouetted away with a staggering $204 million, trailed closely by Bitcoin longs, which managed to lose a respectable $196 million-a veritable feast for the bears!
The atmosphere among crypto investors hangs heavy with dread; it is as if one could hear the collective sigh of seasoned trader Peter Brand echoing through the ether, foretelling further descents of Bitcoin to the ominous realms of $58,000 to $62,000. How poetic!
Our pseudonymous seer, Credible Crypto, remains undeterred, asserting that BTC teeters on the precipice of its bull market structure, much like a tipsy man on the edge of a barstool. “Very close to tagging $74,000 today but thus far it hasn’t been breached,” he muses, with all the gravity of a philosopher contemplating the nature of existence.
Indeed, he continues, “For now, we need to reclaim $81,000 to $85,000 to get out of the ‘danger zone.’” How delightfully vague, yet fittingly dramatic!
And as we await this grand reclamation, let us ponder whether the level will indeed be defended, or if it shall fall like a misunderstood sonnet in the hands of an unappreciative audience. For now, my friends, let us keep our eyes peeled as we see if we can reclaim that elusive 81-85k and take it from there, much like a wayward traveler searching for a lost path through the labyrinth of life.
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2026-02-02 11:36