Bitcoin 
$111,190.80After the last 24 hours of $ 1.17 billion, it exceeded the $ 117,000 threshold. At the beginning of July 10, the leading crypto currency, which was traded around 111,000 dollars, recorded its new summit with an increase of 5.57 percent. This leap put the market value behind Google, and placed it only behind Amazon, Apple, Microsoft, Nvidia and gold.
Short position liquidations shook the market
The chain and derivative stock market data of the analysis platforms showed that the Bitcoin Short position of $ 1.05 million in the slice with the most intense global trading volume was mandatory. This liquidation wave led to the weight of the purchase orders in stock exchanges; Margine calls have been activated in succession and leveraged vendors quickly closed the position.
The sudden contraction in the supply triggered the attraction of purchase orders forward and the price jumped about 5,000 dollars in minutes. Thus, the 24 -hour increase reached 5.57 percent, while the bears withdrew, and the bulls gained superiority in the market.
Market value and technical indicators
Bitcoin’s market value increased to approximately 2.33 trillion dollars, leaving Alphabet behind; Amazon, Apple, Microsoft, Nvidia and Gold, except for gold. This positioning further strengthened the place of crypto currency among traditional beings.
Analyst Martin Folb, the price curve compared with the Global M2 Money Supply Index, the Wyckoff accumulation phase has ended and the distribution phase began stressed. The M2 constitutes a wide range of money supply, including circulating cash, demand deposit and easily translated beings. Folb, in parallel with liquidity, the price of 125,000 and 160,000 dollars, respectively, expressed the potential to share confirmations about the new Wyckoff scheme.
Experts draw attention to the fact that large liquidations increase the volatility and invite investors to carefully review the leverage settings. When the liquidity rapidly changed direction, it was reflected in the reports that the order books were examined and the price shifts grew.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
