Bitcoin experienced a significant pullback last night, with the lowest point reaching $95,745 shortly after midnight. Over the past 24 hours, the entire network saw nearly $500 million in liquidations, with over 190,000 people being liquidated.
Over the past 24 hours, the entire network saw nearly $500 million in liquidations, with over 190,000 people being liquidated.
With the downward trend in Bitcoin, data from Coinglass shows that in the past 24 hours, the total amount of cryptocurrency liquidations across the network reached $495 million, with long positions accounting for $364 million and short positions accounting for $131 million, with over 193,000 people being liquidated.
As Bitcoin aims for $100,000, investors are closely watching to see if the long-awaited Altcoin season is about to arrive.
SAND (which has surged over 100% in the past two days) is a well-established metaverse concept coin that has seen an astonishing recent rally.
What indicators suggest the arrival of Altcoin season?
Although Bitcoin experienced a pullback last night, the performance of the aforementioned strong coins remains robust. However, how can we determine if the Altcoin season has arrived, or if it is just the big players harvesting the short positions? We may be able to observe the changes in BTC.D (Bitcoin dominance).
When the Altcoin season arrives, the price growth of Bitcoin will gradually be surpassed by other coins, causing BTC.D to decline from its high levels. Particularly when BTC.D starts to drop sharply from its highs, it usually means that market funds are flowing into Altcoins, which is an important signal for the start of the Altcoin season.
Based on historical data, the period when BTC.D falls below 50% and further declines to around 40% may be the best time to capture the explosive growth of Altcoins. Currently, BTC.D has adjusted from above 60% to the current 59.37%, but it is still quite far from the 50% level, and it has not even fallen below 50% so far this year.
However, there are many positive factors for Bitcoin this year, so it remains to be seen whether the indicators for the arrival of the Altcoin season will change.
Investors are reminded that Altcoins generally have greater volatility, so users should pay attention to the risks.
Recent performance sharing!!!
The day before yesterday, I entered a position in SAGA at 19, and my spot position was entered at 1.96. It has reached a high of 2.43, with a profit of over 20 points, and I'm aiming for the second target.
On 11.21, I recommended CTSI at 0.148. I entered in three layers, with the first target at 0.18 and the second target at 0.2. It reached a high of 0.1955, and the first target has been reached, with a profit of 32%. The remaining positions are still aiming for the second target, as the Altcoin rebound is bold and decisive. In three days, short-term coins are not as difficult to grasp as one might think.
TRU has reached the target price of 0.1, with a short-term profit of 25%!
(My Weibo is Jingdaihuakai, where I have posted real content with images!)
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