{"id":572191,"date":"2024-01-30T01:00:03","date_gmt":"2024-01-30T01:00:03","guid":{"rendered":"https:\/\/wncen.com\/?p=572191"},"modified":"2024-06-11T07:02:40","modified_gmt":"2024-06-11T07:02:40","slug":"glassnode-bitcoin-surge-could-trigger-a-1-billion-liquidation","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/glassnode-bitcoin-surge-could-trigger-a-1-billion-liquidation\/","title":{"rendered":"Glassnode Co-Founder Warns: Bitcoin’s Surge Could Trigger A $1 Billion Liquidation Event – Here\u2019s Why"},"content":{"rendered":"

A notable perspective recently came from the Glassnode co-founders Jan Happel and Yann Allemann, Negentropic on X, who recently shared insights<\/a> into Bitcoin price dynamics. Notably, the analysts highlighted liquidity as a crucial factor for Bitcoin\u2019s price trajectory.<\/p>\n

Bitcoin Market On The Brink Of Spike In Volatility<\/h2>\n

Negentropic revealed that BTC’s recent ascent above $42,200 has created a significant liquidity pool for long positions, marked by a “neutral impulse” in the market.<\/p>\n

This trend indicates that Bitcoin aims to bridge the liquidity gap<\/a> above the $42,000 mark, which hints at potential volatility and significant market changes.<\/p>\n

Related Reading: Analyst Says \u2018Bitcoin Price Correction Is Over\u2019 \u2013 What\u2019s Next?<\/a><\/div>\n

So far, about $659 million in liquidations have taken place, \u00a0leading Negentropic to predict that continuing the bullish momentum could trigger liquidations worth $1 billion in short positions.<\/p>\n

\n

“Liquidity is KEY.”<\/p>\n

1. Bitcoin Analysis: Bitcoin surged to $42.2k, providing liquidity for long positions, with a neutral impulse.<\/p>\n

2. Liquidity Gap: The price is moving to fill the liquidity gap above $42k, indicating potential volatility. Approximately $659 million in\u2026 pic.twitter.com\/wStqXqmLRN<\/a><\/p>\n

\u2014 \ud835\udde1\ud835\uddf2\ud835\uddf4\ud835\uddf2\ud835\uddfb\ud835\ude01\ud835\uddff\ud835\uddfc\ud835\uddfd\ud835\uddf6\ud835\uddf0 (@Negentropic_) January 29, 2024<\/a><\/p><\/blockquote>\n

This scenario could catalyze a market uplift through a \u201cshort squeeze,\u201d a rapid price increase forcing short sellers to exit their positions. Such market movements often result in dramatic shifts, providing a fertile ground for Bitcoin\u2019s growth.<\/p>\n

Meanwhile, in a post<\/a> uploaded last week, Negentropic linked the burgeoning liquidity in the crypto market to China’s efforts to stabilize its markets by injecting substantial liquidity. According to the Glassnode co-founder, this development could serve as a crucial catalyst for crypto like Bitcoin and equity markets as we progress into the first half of 2024.<\/p>\n

\n

The Liquidity surge begins.<\/p>\n

China will try to prop up its markets by massive liquidity. It is very to be the catalyst that will make crypto and equity markets soar into the first part of 2024 \ud83d\ude80\ud83d\ude80@HenrikZeberg<\/a> https:\/\/t.co\/LBXBRh6D35<\/a><\/p>\n

\u2014 \ud835\udde1\ud835\uddf2\ud835\uddf4\ud835\uddf2\ud835\uddfb\ud835\ude01\ud835\uddff\ud835\uddfc\ud835\uddfd\ud835\uddf6\ud835\uddf0 (@Negentropic_) January 23, 2024<\/a><\/p><\/blockquote>\n

This perspective aligns with the broader market recovery<\/a>, as Bitcoin shows signs of resurgence following reduced selling pressure, particularly from the Grayscale Bitcoin Trust (GBTC).<\/p>\n

Bitcoin trades for $43,166, up 6% in the past week. However, despite this uptick, the asset’s daily trading volume remains subdued, down from $26 billion last Monday to $14 billion today, indicating a cautious market sentiment.<\/p>\n

\"Bitcoin
BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

BTC Bullish Signals Strengthen<\/h2>\n

Amid these market developments, bullish forecasts<\/a> continue to emerge. Crypto analyst Jelle recently suggested\u00a0that with Bitcoin reclaiming the $42,000 level, it might be “time to focus on longs once again.”<\/p>\n

\n

#Bitcoin<\/a> made stellar progress over the weekend, reclaiming $42,000 and making it back into the range.<\/p>\n

Time to focus on longs once again. Bull market stays on! pic.twitter.com\/T7fgmsVIGs<\/a><\/p>\n

\u2014 Jelle (@CryptoJelleNL) January 29, 2024<\/a><\/p><\/blockquote>\n

Echoing this sentiment, Michael van de Poppe, a prominent crypto analyst and pundit, expressed optimism in his latest YouTube video<\/a>. He argued that the recent price correction in Bitcoin might have reached its conclusion.<\/p>\n

Related Reading: Analyst Predicts Bitcoin Consolidation, Eyes Long-Term Price Target Of $500,000<\/a><\/div>\n

Further supporting the bullish sentiment, Ali’s chart analysis reveals an increase in large Bitcoin holders. An additional 46 entities now possess 1,000 BTC or more<\/a>, a 3% rise in just two weeks.<\/p>\n

\n

Even amidst this market correction, #Bitcoin<\/a> whales are not slowing down \u2013 they’re accumulating more $BTC<\/a>!<\/p>\n

In fact, there’s been a notable increase in major players: 46 new entities now hold 1,000 #BTC<\/a> or more, marking a 3% increase in just two weeks. pic.twitter.com\/GVNInKW7A2<\/a><\/p>\n

\u2014 Ali (@ali_charts) January 24, 2024<\/a><\/p><\/blockquote>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

A notable perspective recently came from the Glassnode co-founders Jan Happel and Yann Allemann, Negentropic on X, who recently shared insights into Bitcoin price dynamics. Notably, the analysts highlighted liquidity as a crucial factor for Bitcoin\u2019s price trajectory. Bitcoin Market On The Brink Of Spike In Volatility Negentropic revealed that BTC’s recent ascent above $42,200 has created a significant liquidity pool for long positions, marked by a “neutral impulse” in the market. This trend indicates that Bitcoin aims to bridge the liquidity gap above the $42,000 mark, which hints at potential volatility and significant market changes. Related Reading: Analyst Says \u2018Bitcoin Price Correction Is Over\u2019 \u2013 What\u2019s Next? So far, about $659 million in liquidations have taken place, \u00a0leading Negentropic to predict that continuing the bullish momentum could trigger liquidations worth $1 billion in short positions. “Liquidity is KEY.” 1. Bitcoin Analysis: Bitcoin surged to $42.2k, providing liquidity for long positions, with a neutral impulse. 2. Liquidity Gap: The price is moving to fill the liquidity gap above $42k, indicating potential volatility. Approximately $659 million in\u2026 pic.twitter.com\/wStqXqmLRN \u2014 \ud835\udde1\ud835\uddf2\ud835\uddf4\ud835\uddf2\ud835\uddfb\ud835\ude01\ud835\uddff\ud835\uddfc\ud835\uddfd\ud835\uddf6\ud835\uddf0 (@Negentropic_) January 29, 2024 This scenario could catalyze a market uplift through a \u201cshort squeeze,\u201d a rapid price increase forcing short sellers to exit their positions. Such market movements often result in dramatic shifts, providing a fertile ground for Bitcoin\u2019s growth. Meanwhile, in a post uploaded last week, Negentropic linked the burgeoning liquidity in the crypto market to China’s efforts to stabilize its markets by injecting substantial liquidity. According to the Glassnode co-founder, this development could serve as a crucial catalyst for crypto like Bitcoin and equity markets as we progress into the first half of 2024. The Liquidity surge begins. China will try to prop up its markets by massive liquidity. It is very to be the catalyst that will make crypto and equity markets soar into the first part of 2024 \ud83d\ude80\ud83d\ude80@HenrikZeberg https:\/\/t.co\/LBXBRh6D35 \u2014 \ud835\udde1\ud835\uddf2\ud835\uddf4\ud835\uddf2\ud835\uddfb\ud835\ude01\ud835\uddff\ud835\uddfc\ud835\uddfd\ud835\uddf6\ud835\uddf0 (@Negentropic_) January 23, 2024 This perspective aligns with the broader market recovery, as Bitcoin shows signs of resurgence following reduced selling pressure, particularly from the Grayscale Bitcoin Trust (GBTC). Bitcoin trades for $43,166, up 6% in the past week. However, despite this uptick, the asset’s daily trading volume remains subdued, down from $26 billion last Monday to $14 billion today, indicating a cautious market sentiment. BTC Bullish Signals Strengthen Amid these market developments, bullish forecasts continue to emerge. Crypto analyst Jelle recently suggested\u00a0that with Bitcoin reclaiming the $42,000 level, it might be “time to focus on longs once again.” #Bitcoin made stellar progress over the weekend, reclaiming $42,000 and making it back into the range. Time to focus on longs once again. Bull market stays on! pic.twitter.com\/T7fgmsVIGs \u2014 Jelle (@CryptoJelleNL) January 29, 2024 Echoing this sentiment, Michael van de Poppe, a prominent crypto analyst and pundit, expressed optimism in his latest YouTube video. He argued that the recent price correction in Bitcoin might have reached its conclusion. Related Reading: Analyst Predicts Bitcoin Consolidation, Eyes Long-Term Price Target Of $500,000 Further supporting the bullish sentiment, Ali’s chart analysis reveals an increase in large Bitcoin holders. An additional 46 entities now possess 1,000 BTC or more, a 3% rise in just two weeks. Even amidst this market correction, #Bitcoin whales are not slowing down \u2013 they’re accumulating more $BTC! In fact, there’s been a notable increase in major players: 46 new entities now hold 1,000 #BTC or more, marking a 3% increase in just two weeks. pic.twitter.com\/GVNInKW7A2 \u2014 Ali (@ali_charts) January 24, 2024 Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":538164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,84332,678,1119,78790,6664,85578,61309,91390],"class_list":["post-572191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-liquidations","tag-bitcoin-prediction","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-liquidations","tag-glassnode","tag-negentrophic"],"acf":[],"yoast_head":"\nGlassnode Co-Founder Warns: Bitcoin Surge Could Trigger A $1 Billion Liquidation Event - 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Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Glassnode Co-Founder Warns: Bitcoin’s Surge Could Trigger A $1 Billion Liquidation Event – Here\u2019s Why","url":"http:\/\/wncen.com\/news\/glassnode-bitcoin-surge-could-trigger-a-1-billion-liquidation\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/glassnode-bitcoin-surge-could-trigger-a-1-billion-liquidation\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin liquidations","bitcoin prediction","btc","btcusdt","crypto","crypto liquidations","glassnode","negentrophic"],"dateCreated":"2024-01-30T01:00:03Z","datePublished":"2024-01-30T01:00:03Z","dateModified":"2024-06-11T07:02:40Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Glassnode Co-Founder Warns: Bitcoin’s Surge Could Trigger A $1 Billion Liquidation Event – Here\\u2019s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/glassnode-bitcoin-surge-could-trigger-a-1-billion-liquidation\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/glassnode-bitcoin-surge-could-trigger-a-1-billion-liquidation\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin liquidations\",\"bitcoin prediction\",\"btc\",\"btcusdt\",\"crypto\",\"crypto liquidations\",\"glassnode\",\"negentrophic\"],\"dateCreated\":\"2024-01-30T01:00:03Z\",\"datePublished\":\"2024-01-30T01:00:03Z\",\"dateModified\":\"2024-06-11T07:02:40Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/572191"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=572191"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/572191\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/538164"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=572191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=572191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=572191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}