{"id":648857,"date":"2024-10-19T23:00:19","date_gmt":"2024-10-19T23:00:19","guid":{"rendered":"https:\/\/wncen.com\/?p=648857"},"modified":"2024-10-19T09:25:02","modified_gmt":"2024-10-19T09:25:02","slug":"33-14-billion-bitcoin-price-72462","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/33-14-billion-bitcoin-price-72462\/","title":{"rendered":"$33.14 Billion At Risk If The Bitcoin Price Hits $72,462, Here’s Why"},"content":{"rendered":"

Crypto analyst Ash Crypto<\/span><\/a> has alerted the crypto community that $33.14 billion is at risk if the Bitcoin price reaches $72,462. This relates to the <\/span>short positions<\/span><\/a> that could be liquidated if the flagship crypto hits that price target, a development that will be bullish for BTC.\u00a0<\/span><\/p>\n

Almost $33.14 Billion Will Be Wiped Out If Bitcoin Price Hits $72,462<\/h2>\n

Ash Crypto mentioned the liquidation alert in an X post, revealing that $33.14 billion worth of shorts will be liquidated if the <\/span>Bitcoin price hits $72,462<\/span><\/a>. These BTC bears are already in danger of getting liquidated, considering that the flagship crypto is fast approaching the $70,000 price level. This could pave the way for an extended rally to this liquidation price and even beyond.\u00a0<\/span><\/p>\n

Related Reading: XRP Price Prediction: Analysts Turn Bullish As \u2018Something Big Is Coming\u2019, Here\u2019s What<\/a><\/div>\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n

The liquidations of these <\/span>Bitcoin shorts<\/span><\/a> could be bullish for the flagship crypto, leading to an extended rally to new highs, especially with the current ATH of $73,00 being in sight once the price hits $72,462. However, there is also a scenario where the Bitcoin price could correct to flush out <\/span>overleveraged longs<\/span><\/a> before it continues with its move to the upside.\u00a0<\/span><\/p>\n

For now, the Bitcoin price undoubtedly boasts a bullish outlook, considering how the flagship crypto has rallied since the start of this week. BTC briefly touched $69,000 on October 18, further providing optimism that the crypto could reach a new ATH soon enough. <\/span>Standard Chartered recently predicted<\/span><\/a> that it will likely happen before the November 5 US elections.\u00a0<\/span><\/p>\n

Although that remains to be seen, it is worth mentioning that Bitcoin\u2019s demand is again on the rise, which could fuel this rally to a new ATH. Specifically, the Spot Bitcoin ETFs, which fueled the run to a new ATH earlier in the year, are again actively accumulating. <\/span>SpotOnChain data<\/span><\/a> shows that these Bitcoin ETFs witnessed a net inflow of $2.13 billion this week. <\/span>BlackRock<\/span><\/a>, in particular, added $1.14 billion worth of BTC to its holdings.\u00a0<\/span><\/p>\n

Bear Analyst Warns Crypto Traders<\/h2>\n

Analyst Justin Bennett<\/span><\/a>, known for bearish analysis, has warned traders to be cautious about trading amid this recent Bitcoin price rally. He stated that things do not add up and that staying cautious during periods like this is the best way to survive. He added that he won\u2019t be making any bold predictions at the moment because the data is conflicting.\u00a0<\/span><\/p>\n

Related Reading: Expert Calls On Ripple Community To Collectively Send XRP Price On 1,800x Rally To $1,000<\/a><\/div>\n

However, he suggested that market participants shouldn\u2019t be excited about Bitcoin\u2019s breakout from the seven-month range. This followed his statement that the rally was primarily perp-driven and that <\/span>open interest<\/span><\/a> is back at its late July peak.\u00a0<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

Crypto analyst CrediBULL Crypto<\/span><\/a>, who has been a Bitcoin bear lately, also warned that the Bitcoin price rally is being driven by the perpetuals market. In a recent <\/span>X post<\/span><\/a>, he noted that open interest has officially surpassed the level it was at before the last BTC drop from $70,000 to $49,000.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price still maintaining $68,000 support | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto analyst Ash Crypto has alerted the crypto community that $33.14 billion is at risk if the Bitcoin price reaches $72,462. This relates to the short positions that could be liquidated if the flagship crypto hits that price target, a development that will be bullish for BTC.\u00a0 Almost $33.14 Billion Will Be Wiped Out If Bitcoin Price Hits $72,462 Ash Crypto mentioned the liquidation alert in an X post, revealing that $33.14 billion worth of shorts will be liquidated if the Bitcoin price hits $72,462. These BTC bears are already in danger of getting liquidated, considering that the flagship crypto is fast approaching the $70,000 price level. This could pave the way for an extended rally to this liquidation price and even beyond.\u00a0 Related Reading: XRP Price Prediction: Analysts Turn Bullish As \u2018Something Big Is Coming\u2019, Here\u2019s What The liquidations of these Bitcoin shorts could be bullish for the flagship crypto, leading to an extended rally to new highs, especially with the current ATH of $73,00 being in sight once the price hits $72,462. However, there is also a scenario where the Bitcoin price could correct to flush out overleveraged longs before it continues with its move to the upside.\u00a0 For now, the Bitcoin price undoubtedly boasts a bullish outlook, considering how the flagship crypto has rallied since the start of this week. BTC briefly touched $69,000 on October 18, further providing optimism that the crypto could reach a new ATH soon enough. Standard Chartered recently predicted that it will likely happen before the November 5 US elections.\u00a0 Although that remains to be seen, it is worth mentioning that Bitcoin\u2019s demand is again on the rise, which could fuel this rally to a new ATH. Specifically, the Spot Bitcoin ETFs, which fueled the run to a new ATH earlier in the year, are again actively accumulating. SpotOnChain data shows that these Bitcoin ETFs witnessed a net inflow of $2.13 billion this week. BlackRock, in particular, added $1.14 billion worth of BTC to its holdings.\u00a0 Bear Analyst Warns Crypto Traders Analyst Justin Bennett, known for bearish analysis, has warned traders to be cautious about trading amid this recent Bitcoin price rally. He stated that things do not add up and that staying cautious during periods like this is the best way to survive. He added that he won\u2019t be making any bold predictions at the moment because the data is conflicting.\u00a0 Related Reading: Expert Calls On Ripple Community To Collectively Send XRP Price On 1,800x Rally To $1,000 However, he suggested that market participants shouldn\u2019t be excited about Bitcoin\u2019s breakout from the seven-month range. This followed his statement that the rally was primarily perp-driven and that open interest is back at its late July peak.\u00a0 Crypto analyst CrediBULL Crypto, who has been a Bitcoin bear lately, also warned that the Bitcoin price rally is being driven by the perpetuals market. In a recent X post, he noted that open interest has officially surpassed the level it was at before the last BTC drop from $70,000 to $49,000.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":648869,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-648857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n$33.14 Billion At Risk If The Bitcoin Price Hits $72,462, Here's Why<\/title>\n<meta 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"$33.14 Billion At Risk If The Bitcoin Price Hits $72,462, Here’s Why","url":"http:\/\/wncen.com\/news\/bitcoin\/33-14-billion-bitcoin-price-72462\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin\/33-14-billion-bitcoin-price-72462\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/Bitcoin-price-2.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/Bitcoin-price-2.jpeg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-10-19T23:00:19Z","datePublished":"2024-10-19T23:00:19Z","dateModified":"2024-10-19T23:00:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"$33.14 Billion At Risk If The Bitcoin Price Hits $72,462, Here’s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/33-14-billion-bitcoin-price-72462\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/33-14-billion-bitcoin-price-72462\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/Bitcoin-price-2.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/Bitcoin-price-2.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-10-19T23:00:19Z\",\"datePublished\":\"2024-10-19T23:00:19Z\",\"dateModified\":\"2024-10-19T23:00:19Z\"}<\/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\/2024\/10\/Bitcoin-price-2.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/648857"}],"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\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=648857"}],"version-history":[{"count":1,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/648857\/revisions"}],"predecessor-version":[{"id":648872,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/648857\/revisions\/648872"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/648869"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=648857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=648857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=648857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}