Foreign media: Bitcoin has once again reached the 50-week moving average that the market is closely watching, with its short-term trend returning to a key position. U.Today cites data from Galaxy Research and CoinGlass stating that the current market is testing the resistance zone between $82,000 and $83,000.
The 50-week moving average has once again become the focus.
Bitcoin has encountered resistance near this moving average multiple times over the past year. Galaxy Research estimates that this moving average is currently around $81,041.
- On August 25th, Bitcoin briefly rose to $81,265 before falling back down.
- This time, the price has once again broken through that area with a stronger daily candlestick body.
- The market will now focus more on whether the weekly closing price can hold its ground.
Derivative trading experiences synchronous amplification
CoinGlass Data shows that in the past 24 hours, the trading volume of Bitcoin futures was approximately 84.74 billion US dollars, with an open interest of about 57.86 billion US dollars. The concentration of high-leverage positions has further amplified the volatility.
Short liquidation has significantly increased.
In the past 24 hours, approximately $229.6 million BTC positions were liquidated, of which short positions were liquidated for about $214.8 million, far exceeding the $14.74 million for long positions. As a result, the market's short-term sentiment has significantly strengthened.
