The Biggest Bull Trap Is Ahead Bitcoin Price To March Towards $30K?

Bitcoin (BTC), world’s most popular cryptocurrency, continued its rally on Thursday. Bitcoin price surged by over 10% in the last 24 hours, breaking the $24k price mark. Although investors are hopeful that Bitcoin will surpass the $25k mark, experts have different opinions.
Bitcoin Price on the Surge
Bitcoin’s price has risen by 16% in the last 30 days, as its dominant position in the digital asset marketplace is close to 50%. At press time, BTC trades at an average price $24,560. Michael van de Poppe, a crypto expert, speculated that this could be the biggest bulltrap he has ever seen.


He said that this could be a lesson if you are determined in one direction. This can lead to huge losses and destroy many portfolios. You can read more Bitcoin news here.
The analyst said that corrections are often short-lived in an upward trending market. Michael van de Poppe suggested that higher timeframes should be used to test. The markets will begin to rise after this test. Bitcoin could soon reach the $30-35K mark if it breaks $25k.

BTC Liquidation Breaches $81 Million
Data shows that an unknown whale address purchased 984 Bitcoin worth $24.2 million in one transaction. This BTC was purchased by the crypto whale via Coinbase. During the recent price rise, several whales sent $55 million worth 2270 BTC to various crypto exchanges in multiple transactions.
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The tracker’s largest transaction was the transfer of 1299 Bitcoin (approx. $31.3 million) to Huobi crypto exchange. However, Bitcoin’s 24-hour trading volume has risen by 33% to $35.7 billion.
Coinglass data shows that Bitcoin has been liquidated for more than $81,000,000 in the last 24 hours. The largest liquidation order was placed on Bybit of BTC $2.5 Million.

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The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. The publication or the author are not responsible for any financial loss.

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