Key Points:
BTC attempted to liquidate long positions at the opening of Wall Street, with a focus on $115,000.
The market shifted to short positions ahead of Wednesday's Federal Reserve meeting.
Gold experienced a pullback after breaking through $3,700 to reach a historic high.
BTC showed volatility at the opening of Wall Street on Tuesday, with analysts pointing out potential liquidation risks.
Data from Cointelegraph Markets Pro and TradingView indicated that BTC/USD became unstable as the U.S. trading session began.
Prices fluctuated between $114,800 and $115,300, while the exchange order book showed bid and ask liquidity blocks.
Trading resource TheKingfisher noted in its latest comments on the X platform: "There is a significant concentration of long liquidation zones below the current price, especially around $114,724.3. There are many trapped longs here."
The attached chart shows the "pain points" levels related to spot prices.
"This chart does not predict the future, but it tells you where the pain points are. And where the pain points are, price movements often follow," TheKingfisher added, noting that the leverage levels in the market are high.
The day before, renowned trader Skew identified similar short-term framework volatility and questioned the implied manipulative price behavior.
$BTC The psyops continue https://t.co/yJAKAijXLt pic.twitter.com/JY5tBX49RV
In his latest market report, he summarized: "The market remains biased towards high levels, with ample supply and selling pressure on prices."
Skew stated that traders are shifting to short positions ahead of this week's key macroeconomic event (the Federal Reserve interest rate decision). The Federal Open Market Committee (FOMC) is expected to cut rates by 25 basis points for the first time in 2025.
He concluded: "It is not surprising that positions have significantly decreased during the FOMC meeting, although short positions began to rise as consensus was reached during the FOMC meeting."
The tension ahead of the FOMC meeting is clearly visible across various risk assets.
U.S. stocks opened slightly lower, while gold showed significant volatility and reached a historic high of $3,703.
⚡️JUST IN: Gold surges to a new ATH above $3,700. pic.twitter.com/tcM3T2Gmtt
As reported by Cointelegraph, analysts believe that both BTC and gold "reflect" the future state of the U.S. economy in their prices.
Renowned trader Jelle partially responded on the X platform: "Gold leads the way, with BTC following closely behind." He mentioned that BTC price movements typically lag behind gold by several months.
In terms of performance year-to-date, gold has clearly led, rising 40% since the beginning of the year, while BTC has increased by 23%.
Related: Bitcoin (BTC) may break through $120,000 on Wednesday—Analysis of the reasons.
This article does not contain any investment advice or recommendations. Any investment and trading activities involve risks, and readers should conduct their own research before making decisions.
Original article: “Gold Breaks $3,700 for the First Time, Bitcoin (BTC) Faces Long Liquidation Risks”
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