{"id":539345,"date":"2023-01-14T11:10:35","date_gmt":"2023-01-14T08:10:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-blasts-past-21k-as-3-day-short-liquidations-near-300m\/"},"modified":"2023-01-14T11:10:35","modified_gmt":"2023-01-14T08:10:35","slug":"bitcoin-price-blasts-past-21k-as-3-day-short-liquidations-near-300m","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-blasts-past-21k-as-3-day-short-liquidations-near-300m\/","title":{"rendered":"# Bitcoin price blasts past $21K as 3-day short liquidations near $300M"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a412b5e937f0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a412b5e937f0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-blasts-past-21k-as-3-day-short-liquidations-near-300m\/#%E2%80%9D_Bitcoin_price_blasts_past_21K_as_3-day_short_liquidations_near_300M_%E2%80%9C\" >&#8221; Bitcoin price blasts past $21K as 3-day short liquidations near $300M &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-blasts-past-21k-as-3-day-short-liquidations-near-300m\/#Bitcoin_cracks_key_trend_line_for_first_time_since_69K\" >Bitcoin cracks key trend line for first time since $69K<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-blasts-past-21k-as-3-day-short-liquidations-near-300m\/#Bitcoin_short_liquidations_set_18-month_record\" >Bitcoin short liquidations set 18-month record<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_blasts_past_21K_as_3-day_short_liquidations_near_300M_%E2%80%9C\"><\/span>&#8221; Bitcoin price blasts past $21K as 3-day short liquidations near $300M &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>Bitcoin (BTC) continued a stunning comeback on Jan. 14 as $21,000 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared for the first time since early November.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/be587730-d650-4e9e-a2a1-5c72b51aa581.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_cracks_key_trend_line_for_first_time_since_69K\"><\/span>Bitcoin cracks key trend line for first time since $69K<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0followed BTC\/USD as it hit highs of $21,247 on Bitstamp overnight.<\/p>\n<p>The pair had faced major suspicion after it began to make up some serious lost ground through the week, with analysts warning that a retracement could occur at any time.<\/p>\n<p>Nonetheless, only brief periods of consolidation accompanied Bitcoin&#8217;s ascent, with weekly gains sitting at nearly 25%.<\/p>\n<p>In doing so, BTC\/USD took out its realized price at $19,700, old all-time high from 2017, $20,000 and the 200-day moving average. The latter saw its first resistance\/ support challenge since October 2021, one month before Bitcoin&#8217;s most recent all-time high.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/e8f7fc82-3162-4d8d-9b46-01a92b123512.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day candle chart (Bitstamp) with 200-day moving average. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>&#8220;Similarly to ETH, BTC is gaining momentum,&#8221; on-chain analytics resource Material Indicators <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1614027312160186370\">noted<\/a> about Bitcoin beginning to copy Ether (ETH) strength on short timeframes.<\/p>\n<p>A <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> post added that price action &#8220;has pushed past critical resistance at the 200-Day Moving Average and the 2017 Top (BTC)\/ 2018 Top (ETH).&#8221; <\/p>\n<p>&#8220;Buckle up for volatility!&#8221; Material Indicators concluded.<\/p>\n<p>&#8220;2 days to go but this weekly btc candle is solid AF breaking very key trendlines and low timeframe momentum is still going strong,&#8221; popular trader Bluntz meanwhile\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SmartContracter\/status\/1614020161383837696\">summarized<\/a> about the upcoming weekly chart close.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SmartContracter\/status\/1614020161383837696\/photo\/1\"><\/a><\/p>\n<p>Fellow trader and analyst Rekt Capital went further, drawing comparisons to an event from 2019 that kickstarted an entire Bitcoin bull market after the previous halving cycle&#8217;s macro low in December 2018.<\/p>\n<p>&#8220;Current BTC Weekly Candle is very close to equaling the Weekly Candle from April 2019 that confirmed a new BTC Bull Market,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1614060922896613379\">commented<\/a> alongside a chart.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/088a3b39-7405-4292-8660-270d4c3b2ba7.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Rekt Capital\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_short_liquidations_set_18-month_record\"><\/span>Bitcoin short liquidations set 18-month record<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the midst of the now rare upside, Bitcoin unleashed serious pain for bears, liquidating hundreds of millions of dollars in short positions.<\/p>\n<p><em><strong>Related:\u00a0Bitcoin gained 300% in year before last halving \u2014 Is 2023 different?<\/strong><\/em><\/p>\n<p>According to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/LiquidationData\">Coinglass<\/a>, these totaled around $125 million for Jan. 14 alone, with the period from Jan. 11 onward bringing nearly $300 million of short liquidations.<\/p>\n<p>Including altcoins, liquidations totaled nearly $775 million for the same three-day period.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/eb1ec258-44d4-47a4-8966-b959ff8691fa.png\"><figcaption style=\"text-align: center;\"><em>Crypto liquidations chart. Source: Coinglass<\/em><\/figcaption><\/figure>\n<p>Commenting on futures short liquidations, Dylan LeClair, senior analyst at UTXO Management, noted these that hit their highest daily levels since mid-2021.<\/p>\n<p>&#8220;July 2021 saw Binance USDT denominated futures going extremely short BTC and paying and arm &amp; a leg to do it,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DylanLeClair_\/status\/1613986725113520128\">explained<\/a>.<\/p>\n<blockquote><p>&#8220;USD denominated shorts getting liq&#8217;d is opposite effect of crypto denominated longs unwinding. 30k summer bottom was set day of FTX fresh raise.&#8221;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DylanLeClair_\/status\/1613986725113520128\/photo\/1\"><\/a><\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/4885ae08-6ef2-462b-8c67-f5e485246d21.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin futures 24-hour short liquidations chart. Source: Dylan LeClair\/ Twitter<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-blasts-past-21k-as-3-day-short-liquidations-near-300m\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price blasts past $21K as 3-day short liquidations near $300M &#8220; Bitcoin (BTC) continued a stunning comeback on Jan. 14 as $21,000 appeared for the first time since early November. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin cracks key trend line for first time since $69K Data from Cointelegraph Markets Pro and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":539346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/d48b17bb-61ae-4acb-a69e-c84be9ccc71b.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-539345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/539345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=539345"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/539345\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/539346"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=539345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=539345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=539345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}