$BTC 2-year liquidation heatmap is telling where this cycle bottom could happen.
There's a big liquidity cluster sitting around $45K-$50K right now, and this zone could be the bottom. A few other things also support this bottom thesis: - In Q2 and Q3 2024, BTC traded around $50K zone for a long time, which could act as a support - ETFs approval happened around $42K, and it hasn't been retested properly - Long-term holders realized price is also around this zone, which has historically acted as a bottom line. It's possible that we could a few wicks below this, but $45K-$50K looks like the bottom for this cycle. After that, Bitcoin will start its next bull trend and I guess you can see a massive liquidity cluster above $120,000 too.
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$BTC 2-year liquidation heatmap is telling where this cycle bottom could happen.
There's a big liquidity cluster sitting around $45K-$50K right now, and this zone could be the bottom.
A few other things also support this bottom thesis:
- In Q2 and Q3 2024, BTC traded around $50K zone for a long time, which could act as a support
- ETFs approval happened around $42K, and it hasn't been retested properly
- Long-term holders realized price is also around this zone, which has historically acted as a bottom line.
It's possible that we could a few wicks below this, but $45K-$50K looks like the bottom for this cycle.
After that, Bitcoin will start its next bull trend and I guess you can see a massive liquidity cluster above $120,000 too.