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Bitcoin Traders Hit by Liquidations: Is There a Bigger Story Behind the Sell-Off?

Institutional Crypto Research Written by Experts

Author

Markus Thielen
August 27, 2024

👇1-12) Our August 22 report, "Bitcoin Traders Eye a Tactical Rally as US Election Polls Shift," precisely forecasted the market's movements. We accurately predicted the breakout from the symmetrical triangle at $59,000, leading to our target of $65,000. This reaffirmed our view that the rally was tactical, and $65,000 was critical to book profits.

Bitcoin breakout - and stops triggered

👇2-12) As anticipated, the FOMC minutes and Powell's dovish stance fueled the rally, with the potential for a short squeeze pushing Bitcoin higher. However, despite the +10% surge we predicted, these gains have now fully reversed, with significant risks emerging as we approach September.

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