Bitcoin stalls below local resistance, leaving crypto longs on edge – Why?
Bitcoin’s [BTC] price has been consolidating around the $90k-zone lately. According to AMBCrypto, this price action had the makings of a bottom when zoomed out. In fact, a $3k price wick downwards on 06 January resulted in roughly $440 million in liquidations, most of them being long.
Source: CoinGlass
CoinGlass data showed that at press time, the last 24 hours of trading saw $218.19 million in liquidations across the market. Crypto longs accounted for $140.60 million of them.
Source: CryptoQuant
In the last 24 hours, Bitcoin has oscillated between the $89.3k and $91k-levels. Its recent retest of the $94.5k resistance gave bulls hope of a breakout. Alas, this has not yet materialized. This would explain the higher amount of
