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Bitcoin Fluctuates with Liquidations and Market Shifts amid Growing Institutional Support
The price of Bitcoin tested the range between $117,000 and $118,000 over the past 24 hours, accompanied by liquidation events in long positions totaling $4.09 million across various cryptocurrencies: $DOGE ($1.14 million), $SOL ($800,000), $AVAX ($690,000), and $PEPE ($1.5 million). Total centralized exchange (CEX) inflows showed significant accumulations in tokens like $UNI ($6.0 million), $ENS ($5.5 million), and $PENDLE ($5.1 million). Conversely, there were major outflows from $AAVE (-$30.9 million) and $MKR (-$7.0 million), indicating a trend of liquidity withdrawal from top-tier DeFi tokens. Additionally, the listing of Maple Finance’s token (SYRUP) on Upbit has stimulated trading activity in the Korean market.
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AI Analysis
The recent price action of Bitcoin, oscillating within the $117,000 to $118,000 range, reflects a period of consolidation following a series of liquidation events. Liquidations of over $4 million acro...
AI Recommendation
Given the current state of the market, traders and investors should stay alert to the volatility implied by recent liquidations and liquidity shifts. For short-term traders, monitoring key support and...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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