ON GEM TRADES

#BTC dipped down exactly as predicted and made a strong bounce from it. Price Right Now, struggling from there to break out of the resistance area of $69,600 - $70,000. IF we look into weekly closing, weekly candle made a retest back to the support and large wick which shows strong rejection. Hopefully, we can expect to see a #ATH break too.

#BITCOIN DAILY TF UPDATE :

#BITCOIN is been correcting itself with the market conditions and making the H4 and all LTF bearish. Daily TF also turned bearish at the moment and made a huge wick from the downside showing absorption. Well, price already tested the support and might goes lower for a final shake out too. Eyes on weekly closing and #DXY as well.

📉The question that worries everyone. Will this be a deep correction or not?

Compare the previous four correction phases and the FTX crash phase with the current decline

#BTC made its new #ATH and just wrecked down with that. Currently, price again backing up for breaking with previous High/ATH. Price is very very volatile and too aggressive, so just take the ride and accumulate the dips.

A substantial growth in the the total short-side liquidations over the last 30-days, with over $465M in closed positions. The chart below highlights periods where short liquidations exceed those of longs, many of which align with powerful uptrends fuelled by short-squeezes.

We've observed heavy short liquidation dominance during the rallies into ETF approvals. Despite market-neutral cash-and-carry traders favoring short positions, directional short-sellers are being liquidated at a higher rate than longs. Notably, during both ATH peaks in 2021, long traders dominated liquidation volumes due to forced closure of leveraged positions amidst intra-day volatility. The prevalence of directional short traders facing liquidation indicates a significant number of traders betting against the uptrend since October.

Options markets have also experienced significant growth, with open interest hitting $17.5B. This is on a comparative footing to the $21B in futures markets, which is a relatively new development since 2023.

The growth in options markets suggests that Bitcoin derivative markets are becoming increasingly mature, with investors, traders, and miners now having deeper and more liquid options to hedge and manage risk.