Bitcoin’s market cap stands at $1.12 trillion, up 3.18% in the last day. The fear and greed index is at 47, indicating a neutral sentiment. Bitcoin is currently trading at $28,450, showing almost a 9% increase over the last 7 days. There are nearly 49 million active Bitcoin addresses in the last 24 hours, with over 1 million receiving addresses and almost 700,000 sending addresses. There have been 320,000 Bitcoin transactions in the last 24 hours, totaling $589,000. $43.5 million worth of liquidations occurred in the last 24 hours, with 99.39% being shorts and $16.8 million liquidated on Huobi.
JB expresses concern about Huobi’s liquidation practices. JB believes that Huobi’s liquidations may be contributing to the current downtrend in the Bitcoin market.
The charts suggest a potential drop in Bitcoin’s price in the coming weeks and months. Key support levels are mentioned at $25,000 and $22,000.
Correlation with the stock market
The video also touches on the correlation between the stock market and the crypto market, specifically regarding the Fed’s potential interest rate pivot. JB believes that if the Fed pivots and lowers interest rates, it would be positive for both the stock market and the crypto market.
Future price predictions
JB does not provide specific price predictions for Bitcoin in the future. However, JB does express concerns about the potential for a further drop in price in the coming weeks and months.