- In the last 48 hours, Bitcoin liquidation has been below $50 million.
- BTC has maintained the $60,000 price range.
Last week there was a significant decline in Bitcoins [BTC] price as it fell below the $60,000 threshold.
This slowdown led to an increase in both short- and long-term liquidations, leading to the elimination of some positions.
However, there appears to be a recent balance between price movement and liquidations, suggesting a stabilization in the market.
Bitcoin liquidation slows
AMBCrypto’s analysis of the Bitcoin cryptocurrency settlement chart revealed an increase in settlements on April 30 and May 1.
On April 30, the liquidation volume exceeded $113 million, with long positions accounting for more than $95 million.
This trend continued until May 1, with liquidation volume exceeding $136 million and long positions accounting for more than $100 million.
However, as BTC price recovered and regained the $60,000 price range, liquidation volume began to decline.
Subsequently, since May 2, the settlement volume has only exceeded $50 million once. The latest data shows that the liquidation volume was around $10 million at press time.
Bitcoin maintains trend above $60,000
AMBCrypto Bitcoins Look The price trend on the daily time chart indicated a notable rebound following its declines on April 30 and May 1, during which it experienced an 8% loss in 48 hours.
AMBCrypto chart analysis revealed consecutive bullish trends that began on May 2, with a notable increase of over 6% observed on May 3.
At the end of trading on May 4, Bitcoin had risen more than 1%, reaching approximately $63,900.
At the time of writing, it was trading down less than 1% but still maintaining the $63,000 price range.
Despite this bounce, its short moving average (yellow line) continued to serve as resistance around $66,000.
Tense benefits for 30-day holders
Bitcoins 30-day Market Realized Value (MVRV) index indicated that holders experienced a period of being underwater for much of April.
The chart revealed that BTC remained below zero and hit its lowest point in months, falling to -9.71%.
Read Bitcoins [BTC] Price prediction 2024-25
However, at the time of this analysis, the MVRV has risen slightly above zero, hovering around 0.026%.
This suggests that holders within this time frame are making profits, likely due to the recent slight increase in the price of BTC.
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