Its tragic fall from the beginning of November 2021, after hitting its all-time-high just above $69k to the beginning of February – left a scar in people’s minds.
Amid all this, there was some jubilation, as, towards the end of March, BTC had managed to breach the $45k mark and touched $48k.
It is still above two crucial levels that are nearly coinciding – the 50 DMA and the $40,000 psychological level.
Comparing historical price movements and liquidations data – it can be clearly seen that whenever there has been a fall, a lot of longs have been liquidated.
The most were on 6 April- of a little over $100 million but the following days have been negligible.
This suggests those with long positions on BTC Perpetual Futures are still willing to pay to hold on to their lost positions despite the correction in the past two days.
And, along with that, the BTC options put/call ratio is also hovering close to just below 0.5.
This point may be taken advantage of through buying-the-dip thus getting a better average price for those who have been holding on to BTC at higher prices.
A graduate in mass communication with a specialization in Journalism, he likes to analyze market trends and stay abreast of all technology.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.