Bitcoin price nears short liquidation zone as it fights for key $69K level, important update for crypto enthusiasts.
BTC price battles for key $69K as Bitcoin nears short liquidation zone

Fight Out Crypto: Bitcoin Breaks Above $69,000 at Wall Street Open

The important crypto, Bitcoin (BTC), has successfully broken above the key $69,000 mark at the March 25 Wall Street open, as the BTC rebound continues to gain momentum. This gala crypto update is the latest in the ongoing rally, and it’s important to know how to keep up with crypto in order to make the most of this opportunity. has also provided an update on their platform, while Helium crypto’s latest developments are also making waves in the market. With gala crypto now in the spotlight, many are wondering what to buy in order to capitalize on this crypto update.

Bitcoin kicks off “TradFi” week with resistance rematch

Data from Cointelegraph Markets Pro and TradingView shows a swift rise for BTC/USD, reaching $69,463 on Bitstamp.

Rising almost 3% in one day, Bitcoin wasted no time recovering from last week’s losses.

The $69,000 mark, which was the top of the previous bull market cycle, continues to hold strong as a psychologically significant level.

“In order for price to continue rising, it must close above $69K with strong bullish momentum,” popular trader Skew wrote in his latest market update on X (formerly Twitter).

Skew also pointed out that there is a significant amount of buy orders at $60,000, while major resistance can be found above the current all-time high near $74,000.

“$74K will be a crucial price level, both in terms of supply and psychology,” he added, noting that there are now more “smaller spot bids” moving closer to the spot price.

However, taking a more cautious approach, Keith Alan, co-founder of trading resource Material Indicators, warned that the lack of nearby buy orders could easily turn the current BTC price recovery sour.

“Last month, Bitcoin closed at around $61.1k, and if bulls can close above that level this month, it would be an unprecedented 7th consecutive green monthly close for #BTCUSDT,” he told X subscribers.

Alan also mentioned the monthly close as a potential area of volatility, stating that a retracement could still occur despite his “fairly bullish” long-term bias.

“With less than a week left for the monthly close and less than a month until the halving, I am keeping an eye on whether buy orders start to push the price towards a green monthly close, or if they continue to thin out within the range,” he wrote.

Bitcoin liquidation risk intensifies

The latest liquidation data highlights the high stakes involved in trading Bitcoin.

According to the monitoring platform CoinGlass, over $50 million worth of BTC short positions were liquidated in the past 24 hours.

If the price breaks above $70,600, it could trigger a liquidation of $500 million in short leveraged positions.

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