Benzinga - Crypto trader CrypNuevo discussed Bitcoin’s (CRYPTO: BTC) journey towards a high-timeframe (HTF) liquidation zone centered around $69,000, pointing out liquidity runs’ potential mechanics and implications.
What Happened: CrypNuevo notes that Bitcoin is gradually approaching the $69,000 liquidation zone, emphasizing the usual pattern of "liquidity runs" that occur before hitting significant liquidation areas. New short positions will likely emerge from traders aiming to catch market tops, contributing to the overall liquidity.
$BTC Sunday update:Bitcoin is working its way towards this HTF liquidation zone centered around $69k.
However, it's common to see "liquidity runs" before hitting important liquidation zones, with the simple intention to gather even more liquidity.
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