Bitcoin (BTC), the world’s leading cryptocurrency, has recently witnessed a surge in price, reaching a new yearly high of $42,100 on Monday. However, this significant price increase has raised concerns among market participants about the possibility of a potential correction and a subsequent liquidation sweep, which could drive the price down to as low as $25,000. Second Capitulation And Liquidity Sweep For Bitcoin? Justin Bennett, a prominent technical analysis expert, acknowledges the remarkable performance of Bitcoin, stating, “It’s been a hell of a run from BTC, and it may very well continue without a significant correction in the short term.” However, Bennett highlights that the previous two bear markets concluded with a second capitulation, suggesting the possibility of a similar scenario occurring this time. Bennet cautions against ruling out a liquidity sweep that could drive the price down to $25,000. Related Reading: Analyzing The Titans: How Bitcoin Whales Influenced The Surge To $40,000 To provide further context, liquidity sweep refers to a sudden and drastic move in price that aims to clear out excess leverage and trigger liquidatio ..
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