Key Takeaways:
Bitcoin dropped 0.7% to $76,200 on April 28 as markets shifted focus away from Middle East geopolitical risks. The Bitunix analysis shows that $43 million in long positions were liquidated as Bitcoin’s market cap fell. Bitunix analysts expect bitcoin to trade within a bi-directional range of $76,000 to $80,000 based on current leverage. Bitcoin Slides Below $76KAccording to the analyst, this creates a classic bi-directional inducement structure, where leveraged positioning incentivizes both upside and downside moves.
