Massive Liquidations Shake Crypto Markets as Bitcoin Rockets Upward
The digital asset markets are currently experiencing a surge, led by Bitcoin (BTC), which is making significant gains.
During this same period, BTC has witnessed a 9.4% increase and is currently trading at $33,913. Over the past week, Bitcoin has soared by more than 19%, hitting a new yearly high just above $35,400.
ThBTC’s remarkable performance has prompted a sentiment change among prominent traders.
Popular crypto trader Nicholas Merten has acknowledged his earlier misjudgment of Bitcoin’s trajectory this year.
He remains cautiously uncertain about the prospects of a full-fledged bull market, stating, “It’s difficult to admit, but the call on Bitcoin this year was incorrect.” He also conveyed his respect for those who correctly predicted a break above $31,000.
Another trader, known as Capo, who had maintained a bearish stance for over a year, has also altered his perspective. In light of recent developments, he observed, “The recent breakout defies the main bearish scenario I had in mind.”
He went on to analyze the market, explaining the need for prices to fall below $30,000 to confirm a deviation from the previous resistance level, emphasizing the current uncertainty.