As Bitcoin shorts lost USD 450 million in daily liquidation, the price of BTC rebounded to USD 50,000


Bitcoin (Bitcoin) Quickly recovered $50,000 on September 2 because the bear felt the most pain and lost hundreds of millions of dollars.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Bitcoin triggered a new baptism of bear blood

Data from Cointelegraph Markets Pro with Transaction view It shows that BTC/USD suddenly broke through the 50,000 USD mark and hit the highest point since August 23.

After a night of bullish action, the currency pair has left the lower trading range of recent weeks and remains highly volatile at the time of writing. Bitstamp’s local high broke through $50,300.

As Cointelegraph ReportIn order to consolidate the continuation of the Bitcoin bull market in 2021, $51,000 is still a level that needs to be broken.

Heavy resistance stay At that level on Thursday, analysts are watching whether the recent rise has the momentum needed to change the long-term paradigm.

BTC/USD trading positions (Binance) as of September 2. Source: Material Indicators/ Twitter

“Bitcoin faces the last hurdle before $57,000,” Cointelegraph special analyst Michaël van de Poppe Tweet In his latest update.

“Welcome back to the $50,000 BTC,” analyst Rekt Capital Add to.

Short traders suffered heavy losses from the upside, and liquidation took a hit Nearly five billion dollars In the past 24 hours.

BTC/USD clearing chart. Source: Bybt

Not so boring after all

As Cointelegraph famousIn terms of Bitcoin returns, September is often a “boring” month, and the current 6% is the best performance on record.

related: The price of ADA touched $3 for the first time, as Cardano and Ethereum lead the cryptocurrency “super bull market cycle”

Price predictions take into account anomalies and the popular “worst case” series from PlanB, the creator of the inventory-to-flow model call The minimum monthly closing price is $43,000.

The statistician’s August monthly closing forecast was $47,000, which was completely correct. He calculated that the closing price in October should be at least $68,000-a record high.